Ceverine, a fintech offering AI-driven digital collection services, and Capital Resolve, who provide debt collection services, have jointly announced their agreement to combine.
The merger brings together Ceverine’s expertise in machine-learning, automation and digital collections with Capital Resolve’s proven capabilities in both non-regulated and regulated collections.
The transaction has received the approval of the Financial Conduct Authority (FCA) as well as the companies’ key clients and stakeholders.
Capital Resolve will consolidate capabilities of both companies and continue to operate as an independent entity now fully owned by Ceverine.
It will continue to provide regulated and non-regulated debt collection and recovery services.
Bernie Phillips has become a significant shareholder in Ceverine alongside Ceverine’s other shareholders and will continue to serve as managing director of Capital Resolve.
Ceverine’s CEO, Mehmet Akseki, will take the role of group chairman and oversee corporate strategy and digital transformation.
Akseki said: “This transaction represents the perfect fusion of tech-driven services and sure-footed execution.
“Ceverine’s ML-driven analytical capabilities as well as our capabilities in automation and digital delivery and our quality investor base will complement Capital Resolve’s outstanding management team, its long history of performance and its portfolio of high-profile clients.”
Phillips added: “We are extremely delighted to have completed this business combination with Ceverine.
“The combined strengths of Capital Resolve and Ceverine will provide us with exciting opportunities that will be supported by cutting edge digital transformation.
“This will bring significant benefits to all stakeholders including our existing employees, clients and our community.
“Both companies are dedicated to ensuring a seamless integration process and will communicate updates to stakeholders regularly.”
