AdvisorEngine Acquires Junxure and Raises Growth Capital
Fintech company AdvisorEngine announced today that it has acquired Junxure, an industry leader of advisor technology and practice management solutions with more than 12,000 active users. According to the company, the combined company will pair digital solutions with consulting services to help financial advisors use technology as a competitive advantage.
“The next frontier of innovation within financial services is happening at the intersection of personal relationships, data science and automation – which makes native CRM functionality especially powerful,” said Rich Cancro, AdvisorEngine founder and CEO. “I am thrilled to bring the companies together while maintaining Junxure’s culture of innovation and independence.”
As part of the acquisition, WisdomTree Investments, Inc., AdvisorEngine’s largest shareholder, has committed to lend up to $30 million of working capital to AdvisorEngine. The majority of the proceeds will be used to fund the acquisition, with the remainder used for future technology development and other growth initiatives.