Solifi buys Inovatec in third acquisition in 14 months
What's the deal? SolifiDealroom has a profile for this one. Try Dealroom → has acquired InovatecDealroom has a profile for this one. Try Dealroom →, adding retail automotive and power sports loan origination technology to its secured finance platform. The deal — Solifi's third in 14 months — brings Inovatec's Propel origination and loan management system, plus a roughly 160-person team based mainly in Vancouver and Serbia. Terms were undisclosed.
Who's who? Solifi's platform already spans equipment, wholesale, and working capital finance, with roots going back to IDSDealroom has a profile for this one. Try Dealroom → in the equipment space. Inovatec, founded nearly 20 years ago by Vladimir Kovacevic and his spouse Daniela, focuses on software for asset-based lending, chiefly automotive and power sports.
What's the endgame? Chief executive officer Dan Corazzi wants Solifi to be "the one disruptive provider that offers everything" in secured finance — a unified platform where lenders can move data across product lines. Auto retail was a gap for the company, both in product and North American geography.
Why buy, not build? Solifi weighs acquisitions on products, vertical segment, and geography. "From an auto retail perspective, quite honestly, it was both a product gap and a geography gap in North America," Corazzi said.
What's in it for Inovatec? Kovacevic said the company sought a partner to help it "scale and grow globally" and accelerate growth in North America — one for which its work filled a gap rather than overlapping with competing products that complicate integration. Both executives said the aim is to take the cloud-based solution global in the years ahead.
The signal: Solifi's buying spree reflects a consolidation push in secured finance software, as vendors move to offer lenders a single platform across equipment, wholesale, working capital, and now auto retail — rather than fragmented point solutions.
Read more: abfjournal.com
Image credit: Generated with Gemini
