The company said nearly 10,000 advisors and administrators use its software to manage their front and back office workflows to respond to their consumer and regulatory needs.
Hg Capital said the transaction was expected to close in early August, and represented the second investment for its Mercury fund.
Its first came in October last year when it completed a majority investment in UK online marketplace Valueworks.
IntelliFlo CEO Nick Eatock, who will keep a significant interest in the company with the rest of the senior management, said, “I am delighted to be partnering with HgCapital for the next stage of development of IntelliFlo.
“With the support of an expert investor, we intend to continue to invest and deliver even better products for our customers in the post-RDR era.
“I am also delighted that the wider team is re-investing with me and wish to thank my departing co-founder Jamie Coats for his personal contribution to making IntelliFlo the successful business that it is today.”
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