Venture backers of fintech software provider FNZ to sell stakes for £2bn

General Atlantic and HIG Europe are scouting buyers for their stakes in British fintech software-as-a-service firm FNZ, to the tune of £2bn, according to reports.

FNZ, which is headquartered in London, is exploring potential investment bankers to advise on the majority stakes sale which is expected to kick off at the end of this year, Sky News reported.

The deal could put the value of the business somewhere between £1bn and £2bn, however it is expected that FNZ would fall closer to the higher end of the range.

Chaired by former Lloyds Banking Group deputy chairman Lord Leitch, FNZ counts several major names as clientele including Aviva, Barclays and HSBC.

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