Fox Williams advises majority shareholder Cattleya on the sale of Nucoro Holdings Limited to Backbase

Fox Williams advised Cattleya, the majority shareholder in Nucoro Holdings Limited (Nucoro), on all UK legal aspects of the sale of Nucoro to Backbase.

Nucoro is a UK-based digital wealth platform. Backbase is a Dutch fintech company that provides banking solutions for retail and business banks and wealth managers.

The deal was led by partner, Guy Morgan and included associate, Ben Martin, senior associate, Stephanie Tsang and trainee Gia Andreou in the corporate team. Financial services regulatory partner Chris Finney, head of tax and incentives, Emma Bailey, tax director, Joanne Varia, commercial associates, Millie Pierce and Claire Bowler, and employment associate Grace Waterhouse also advised on the transaction.

Guy Morgan said: “This transaction demonstrates our pre-eminence in advising on corporate transactions in the fintech sector. It also shows our ability to act at speed to achieve the best results for our clients on their business-critical transactions.”

Lennart Asshoff, Nucoro Co-Founder and CEO said: “Backbase is an ideal partner to bring the next generation of wealth infrastructure to financial institutions around the world. As a trusted innovation partner to financial institutions, Backbase offers us the reach and technical expertise to take our vision further”

“We are very grateful to Guy, Ben and the whole Fox Williams team for their invaluable advice and support on this deal and for enabling us to complete on a very ambitious timetable”.