FTV Capital makes growth equity investment in Docuspace
FTV Capital, a sector-focused growth equity investment firm, has made a growth equity investment in Docupace, a cloud-based digital operations software provider for wealth management firms.
Docupace provides solutions that include client and advisor onboarding, document management, standardized workflows, robust approval processes, and compliant storage as an integrated platform that eliminates the need for multiple vendors.
The capital injection enables Docupace to expand its product and service offerings to its broker-dealer, registered investment adviser and insurance firm customers, as well as with financial advisors.
Docupace also appoints David Knoch, former president of 1st Global, to the role of chief executive officer effective immediately in connection with the deal.
FTV’s portfolio currently includes Apex Fund Services, Aspire Financial Services and Cardconnect. “From the outset of our discussions, it was clear that FTV Capital offered the ideal combination of deep domain expertise and value-add,” said Michael Pinsker, founder and president of Docupace. “In the coming weeks and months, we have an exciting pipeline of near-term capabilities for our clients that we will be unveiling for the first time,” he added.
The leadership FTV Capital brings to Docupace will accelerate its client-centric initiatives, advancing product development and continuing its thought leadership in automating the ways front and back-offices operate, communicate and generate new business, according to the fintech company.
Knoch commented: “Robust operating practices translate into better client outcomes, yet too few firms have fully automated the front and back office. Our mission is to solve this, and with innovative products and platforms that are a natural outgrowth of a culture that prizes anticipating and developing solutions for clients ahead of their needs, and in advance of industry trends, we will do just that.”
Robert Anderson, partner at FTV Capital: “We are excited by the innovation taking place across the wealth management landscape and Docupace’s commitment to reducing paper and increasing back-office automation.”
Anderson continued: “At FTV, we are passionate about the future of digitization and the crucial role it plays in empowering financial advice providers and the firms that serve them, especially in an era when organizations need to be more flexible in enabling remote work solutions, and more immediately responsive to client needs in the face of market uncertainty.”