10Pearls Acquires Xtensifi to Expand its Financial Industry Portfolio
The Rapid Growth Continues: 10Pearls Acquires Xtensifi to Expand its Portfolio of Development and Advisory Services for the Financial Services Industry
We are thrilled to announce our third acquisition made in 2021, as we bring Xtensifi, a fintech company, under the 10Pearls umbrella. Xtensifi specializes in full life cycle strategy, design and development of digital experiences and innovative technology for the financial services industry including major banks, credit unions, and fintech firms.
The acquisition of Xtensifi is focused on deepening and strengthening our financial services and banking industry expertise. Fintech firms continue to see record funding, with $30.8B raised across 657 deals in Q2 2021 alone according to CB Insights. With the acquisition of Xtensifi, we will be ideally suited to enable the success of these firms as well as financial institutions as they accelerate their investments in leading digital solutions.
“Xtensifi allows us to broaden our expertise in fintech innovation and onboard experienced leadership in the financial services business vertical ” said Imran Aftab, 10Pearls CEO. “The wave of digital transformation in the finance sector has been nothing short of astounding, and it has been one of the fastest growing sectors for us in the last year. The rapidly changing financial ecosystem creates an opportunity for us to reimagine existing systems to truly innovate and build fantastic experiences for our clients.”
With this third acquisition in 2021, we now have over 1100 employees worldwide. Strategic acquisitions have helped us provide higher value to our combined client base through diversified geographic delivery, focused business industry expertise, and expanded digital capabilities. The acquisition of Proximity in August of this year strengthened 10Pearls’ nearshore position with expanded capabilities and delivery teams across Latin America. In April, the acquisition of Likeable Media solidified 10Pearls’ ability to go beyond technology development and allow for full digital touchpoints with the consumer. As we now deepen vertical expertise, the sky’s the limit for our growth.
We are also excited to welcome Brandon Kunz, co-founder of Xtensifi, to 10Pearls as our Managing Director, Financial Services. Says Kunz, “Xtensifi has long been a strategic partner to fintech organizations and financial institutions as they respond to increasing demand from consumers and SMEs for better and more meaningful financial solutions. 10Pearls will afford us greater scale on a global basis as we help our clients do the right things and do them exceptionally well.”
