Arcadea closes growth equity recap of fintech company Identifi

Identifi’s founder and CEO Alan Wiessner will continue in his role and maintain a significant equity interest in the business.

  • Originally founded in 1988 as Integra Business Systems, the company has grown into a market-lead around process automation for financial institutions
  •  Arcadea Group invests in typically founder-controlled software companies

Safety Harbor, Florida-based Identifi has completed a growth equity recapitalization with Arcadea Group, a Canadian private equity firm. No financial terms were disclosed.

Identifi is a provider of enterprise content management and workflow software for banks and credit unions. Originally founded in 1988 as Integra Business Systems, the company has grown into a market-lead around process automation for financial institutions.

Identifi’s founder and CEO, Alan Wiessner, will continue in his role and maintain a significant equity interest in the business.

Daniel Eisen, a managing director and co-founder of Arcadea Group, said in a statement: “Al and his team have built a wonderful business that delivers enormous value to their customers. We look forward to supporting the continued growth of the business as it expands its presence in the market. Identifi is a great addition to our growing portfolio of best-in-class independent software vendors for the banking and credit union market. ”

Based in Toronto and Orlando, Florida, Arcadea Group invests in typically founder-controlled software companies.