Volution portfolio company FullCircl has been acquired by nCino, the leading provider of intelligent, best-in-class banking solutions, in a deal worth $135m.

The Volution team first invested in DueDil in 2017, believing in the management's vision for an API led solution for financial services clients wanting to onboard SMEs at scale. There was further investment when DueDil merged with Artesian in 2021 to create FullCircl.

“The acquisition of FullCircl is a strategic move for nCino that will not only enhance our data and automation capabilities but also enables us to expand our reach across the UK and more broadly in Europe with an end-to-end experience for full client lifecycle management,” said Pierre Naudé, Chairman and CEO at nCino. “Having worked closely with the FullCircl team for some time now, we recognised the value our joint technology can deliver, and this acquisition marks an exciting step forward in our mission of driving innovation and powering a new era in financial services.”

Andrew Yates, CEO and Cofounder at FullCircl added: “We have been working with the nCino team for several years, and the close alignment in both organisations across vision, culture, customers, product and market opportunity have contributed to this exciting acquisition making perfect sense. We both serve regulated industries who walk a tightrope between a strict operating rulebook and a mandate to deliver growth and shareholder value, all while providing a seamless client experience. This marks a significant new chapter for FullCircl as we become part of nCino.”

James Codling, Managing Partner at Volution said: “This is a phenomenal result for FullCircl and demonstrates the attractiveness of UK Fintechs to overseas corporates and investors. Many congratulations to Andrew Yates, Justin Fitzpatrick and the entire FullCircl team.”