Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Fintech»Karl Deeter-led mortgage and insurance fintech sold to UK plc in up to €9m deal – The Irish Times
    Fintech

    Karl Deeter-led mortgage and insurance fintech sold to UK plc in up to €9m deal – The Irish Times

    August 5, 20253 Mins Read


    An Irish mortgage and life insurance solutions fintech led by home loans expert Karl Deeter has been acquired by London-listed Software Circle in a deal worth as much as €9 million.

    The deal has involved an initial €5 million being spent for 95 per cent of Dublin-based Artificial Intelligence Finance (AIF), some €670,000 of which will be paid in a year’s time.

    As much as €4 million will be payable in future for the remaining 5 per cent, subject to certain performance targets being achieved in 2026 and 2027, Software Circle said in a statement on Tuesday.

    AIF is better known under its trading name, OnlineApplication (AO), which is linked up to 60 mortgage brokers and five lenders as well as 200 life insurance intermediaries and two life companies.

    The technology of OnlineApplication allows prospective homebuyers or loan switchers submit applications over their phones to a broker and then brokers can file these directly into the bank lending systems digitally.

    [ Karl Deeter-led OnlineApplication buys insurance tech firm Money AdviceOpens in new window ]

    Early last year, AIF acquired insurance technology business Money Advice for an undisclosed sum. That firm, which was rebranded as AO Life and CRM, provides a full suite of client management, marketing, quotes, advisory and compliance tools.

    Mr Deeter, who owned close to half of AIF before the acquisition, will continue to lead the company following the transaction. Other shareholders included state agency Enterprise Ireland, Hostelworld co-founder Tom Kennedy and Patrick Joy, founder of storage equipment specialist Suretank.

    Mr Deeter said Software Circle’s track record as a long-term software operator made it the right partner to take AIF to the next stage.

    “This is about helping brokers become the number one delivery channel for digital financial services in Ireland,” he said. “It’s a vote of confidence in our team, our customers, and our vision.”

    Accounts for 2023 show AIF generated €2.2 million in revenue. However, Software Circle said the valuation reflects expected annual earnings before interest and tax (Ebit), with the acquisition anticipated to be earnings-enhancing and cash-generative in its first year.

    AIF was advised by Hugh O’Neill of accountancy firm Hogan and Associates. Software Circle was advised by UK-based Allenby Capital.

    The Irish mortgage market is expected to grow to €14 billion this year from €12.6 billion in 2024, according to PTSB. It is seen expanding further to €15.2 billion next year, according to the bank.

    Mortgage brokers account for close to half of all home loans written in the State.

    Irish home prices are expected to rise by a further 5 per cent over the next 12 months, amid ongoing supply shortages, according to a recent survey of estate agent members of the Society of Chartered Surveyors Ireland (SCSI).

    However, 60 per cent of those polled see prices levelling off soon, with a further 18 per cent saying that they have already peaked – after a dozen years of continuous growth.

    The Government, formed in January with a strong mandate to tackle the State’s housing crisis, is widely expected to fall well short of its target for 41,000 homes to be completed this year as it eyes 300,000 new homes by 2030.

    The Central Bank of Ireland said last month that it was “surprised” by the lack of progress and that it now estimates only 32,500 units will be delivered in 2025. Some 30,330 homes were built in 2024.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    AI-Powered Brokerage Longbridge Securities Wins ‘Investment Tech of the Year’ at Asia FinTech Awards 2025

    Fintech

    Affordable credit, fintech key to deepening inclusion, says EFInA

    Fintech

    Fintech lobby pushes for AI expertise in California DOJ

    Fintech

    Swedish Fintech Klarna Reportedly Targets $14B In Revived US IPO

    Fintech

    SBP Opens Fintech Sandbox for Innovative Solutions

    Fintech

    Clearlake completes take-private buyout of fintech firm Dun & Bradstreet

    Fintech
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    President Trump’s Digital Asset Executive Order | Bilzin Sumberg

    Commodities

    Remain positive on commodities; raise precious metals sector to overweight By Investing.com

    Investments

    Finance expert shares five money hacks to help increase retirement savings by over £50,000

    Editors Picks

    AI Fintech Platform Aibit Releases Extensive Customer Impact Study

    August 20, 2024

    Hannah Gill’s real estate revolution

    October 15, 2024

    We ditched UK for £250k home abroad with swimming pool | World | News

    June 8, 2025

    LNG Shipping Costs Soar to 8-Month High Amid Middle East Turmoil

    June 24, 2025
    What's Hot

    Festival de musique de Sully, Festicolor, Gâtinaicticut Metal Fest, Festivox… Nos choix culturels de la semaine dans le Loiret

    June 5, 2025

    Mercurity Fintech annonce un plan de financement de 800 millions de dollars pour sa trésorerie Bitcoin

    June 11, 2025

    BHP removes striking workers from world’s largest copper mine

    August 15, 2024
    Our Picks

    Fintech Leaders Tap Generative AI for Safer, Faster, More Accurate Financial Services

    October 28, 2024

    Le groupe Intuitive Investments nomme un nouveau PDG dans la perspective d’une cotation sur le marché principal de Londres

    March 31, 2025

    Ex-SAS star Ant Middleton ‘forced to sell UK home after £1,200,000 debts’

    February 18, 2025
    Weekly Top

    THE PROPERTY NERDS: Higher returns, lower hassle – The commercial property advantage

    August 26, 2025

    Long bonds around the world get hit by inflation, spending focus

    August 26, 2025

    Fintech lobby pushes for AI expertise in California DOJ

    August 26, 2025
    Editor's Pick

    After 4 Decades in the Commodity Business, Aloha From Todd’s Take

    August 16, 2024

    Gold once again approaches a cliff edge

    June 27, 2025

    Metal Band Gojira Shocks With Marie Antoinette Moment

    July 27, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.