Parabellum-backed ieDigital adds on AI fintech provider Abaka

Abaka is an AI fintech software provider.

  • This deal follows ieDigital’s acquisition of Connect FSS in October 2023
  • Parabellum is the family office of international growth investor Rami Cassis
  • ieDigital is a digital banking software developer

ieDigital, a portfolio company of Parabellum Investments, has acquired Abaka, an AI fintech software provider.

Abaka, based in London, uses machine learning and behavioural segmentation software to predict which products – such as banking products, savings accounts or retirement solutions – are the most likely to be bought by financial services consumers.

This transaction follows ieDigital’s acquisition of Connect FSS in October 2023.

ieDigital, Abaka and Connect FSS will form a new group under ieDigital’s CEO Jerry Young. The three companies will retain their separate brand names in their respective markets, with separate websites.

London-headquartered Parabellum is the family office of international growth investor Rami Cassis. Cassis has been both a majority and minority investor in ieDigital since around 2010.

ieDigital is a digital banking software developer based in London.

No financial details of the transaction were disclosed.