The investors are set to buy out BlackFin Capital Partners.

French fintech and data management firm NeoXam has today announced that state-backed Bpifrance and venture capital firm Cathay Capital have agreed to buy a controlling stake in the company from BlackFin Capital partners.

The deal is expected to complete by the end of May.

Benoist de Saint Lager, investment director at Bpifrance, said: “Demand for new software solutions in the asset management sector is expected to grow significantly in the coming years. We are looking forward to work with NeoXam’s team to help them grow and strengthen their leadership status in a European financial ecosystem we know well.”