Crastorehill Acquires Open Banking Firms ndgit and Qwist Ahead of PSD3

Crastorehill, a portfolio company of Fintech Capital, acquired two German open banking firms — ndgit and Qwist (previously known as finleap) — in a double deal announced in late 2023. The acquisitions are designed to bolster Crastorehill's data analytics and open banking infrastructure ahead of the European Union's anticipated PSD3 regulation. ndgit provides API-based open banking middleware, while Qwist offers open banking connectivity and data services. The combined capabilities position Crastorehill as a more comprehensive embedded finance infrastructure provider in the European market.

Financial terms of the transactions were not disclosed. The deal reflects growing consolidation in Europe's open banking sector as providers prepare for the next wave of regulatory change under PSD3, which is expected to expand data-sharing requirements across financial services.