Back in December 2018, Dutch VC Main Capital invested in Munich-based fintech startup Cleversoft to capitalise on the growing RegTech Challenge for financial services. In a recent development, cleversoft has acquired an Amsterdam-based specialist of risk and regulatory reporting solutions SecondFloor, which also happens to be its competitor.
Notably, this is the first acquisition of the cleversoft founded in 2004 by Dominik del Bondio, Florian M. Clever and René Blaschke. It is an attempt to buy and build a strategy in addition to focusing on strong organic growth. Along with Main Capital, the Munich-based company aims to build a European RegTech Provider focused on SaaS. While Main Capital is the primary source to finance the acquisition, it is a minority shareholder in SecondFloor while cleversoft is the majority shareholder.