Dutch private equity firm NPM Capital has acquired a 35% stake in domestic fintech start-up Ohpen from long-time investor Amerborgh.

Ohpen offers its core banking platformas a Software-as-a-Service (Saas) which administers retail investment and savings accounts for banks and other financial institutions.

Commenting on the deal, NPM Capital managing director RutgerRuigrok said: “The technology sector is an increasingly important focus point in our investment portfolio.

“Already, we have had Ohpen in sight as one of the most promising technology companies that we have seen in the past few years.

“We are impressed with their achievements over the past ten years: a cloud native core banking engine, an impressive customer base and a wonderful foundation for further growth. We are very enthusiastic about now being part of their future.”

Ohpen CEO Matthijs Aler said: “With Amerborgh and now also with NPM, we have a well-balanced long-term shareholder structure that enables Ohpen to realise all of its future growth ambitions. I am really looking forward to working with the NPM team.”

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The Dutch fintech company is planning to expand its services to large banks and the pension market beyond the midsize banking market.

Ohpen’sSaaS core banking engine runs entirely in the cloud and its solution is being used by clients such as Aegon, Nationale-Nederlanden, Volksbank and other banks, investment institutions and insurers.

Ohpen has a workforce of more than 120 people in the Netherlands and Spain.