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Quesnay joins forces with the Stacc group

We are excited to announce that Quesnay AS is now part of the Stacc AS group. Stacc is a Norwegian Fintech company with more than 100 employees and 30 years of experience, delivering cloud-based, digital solutions and consulting services to the banking and finance industry in the Nordics. Quesnay will become a 100% owned subsidiary of Stacc and will continue to focus on the company’s core business: Delivering software solutions for compliance, KYC and anti-money laundering (AML). The offering compliments Stacc’s existing product and service portfolio, and overall, the Stacc group is expected to reach a revenue of 180 MNOK in 2021.

Further strengthening of the Stacc product offering within compliance

Quesnay’s Client Lifecycle Management (CLM) solution is a perfect addition to the existing Stacc digital banking services as it brings an additional level of compliance and customer management.

The acquisition of Quesnay complements Stacc's existing software offering in the compliance area. The market for this has grown rapidly in recent years, driven by new and harmonized regulations from the EU. We believe we have only seen the start of this both in Norway and other European countries and therefore expect that Quesnay's products will help to further accelerate Stacc's growth going forward.” Geir Nordrik, CEO of Stacc AS

Quesnay’s tech team based in Serbia is also part of the merger.

Our team in Serbia is key to Quesnay’s product development. They are a considerable asset for the Stacc group and for our CLM solution growth” Philip Røer, CEO of Quesnay.

 

Stacc + Quesnay FA 3.jpg

Photo: Thea Høyer, Quesnay

Quesnay appoints co-founder as new CEO

Philip Røer, who co-founded Quesnay in 2017, has been appointed as CEO.

"Together with Stacc, Quesnay will create an even more comprehensive offer for our common target group and cover the European market's needs for compliance management.” Philip Røer, CEO of Quesnay

Being part of the Stacc group, we see enormous opportunities for distribution and further development of both Stacc and Quesnay's products. After many years with a customer-centered approach and a high understanding of what our customers in banking and finance need, we are ready for the next step." 

Local presence and growth in the Oslo-area

The merger will further strengthen Stacc’s footprint in the capital.

Many of our Norwegian customers have their headquarters in Oslo. We look forward to strengthening our local team and presence in the capital. In addition to the 120 employees that are located in Bergen, we now have a team of more than 20 people located in Oslo.

We look forward to recruiting even more talented people into the Stacc family in the future, from the large number of talented people in the Oslo area to join in our further growth journey.” Geir Nordrik, CEO of Stacc AS

In the future, we will look abroad for strategic M&A. We are looking for players with good market access and network in their local geographical markets. Sweden is the natural first step, but we are also in dialogue with players in continental Europe.

Read Finansavisen's article about the acquisition 

Read Shifter's article

 

Contact us if you have any question!