ROI acquires Danish fintech company Firstborn Capital

Lead generation technology company, ROI Media UK, has acquired Copenhagen-headquartered, Firstborn Capital as the fast-growth business continues to expand across key locations and vertical markets.

Firstborn Capital provides digital marketing and lead generation in the fintech space, with a focus on unsecured consumer loans and bank loans through partnerships with leading financial companies and banks. The deal adds 9 million SEK of annual revenue for ROI and is the company’s second acquisition since growth capital investor BGF backed the business with a total of £7 million investment. BGF invested £3 million in June 2020 and a further £4 million in January 2021.

The funding was raised to support the company’s expansion into 12 cities across the UK and Europe. This is a strategic acquisition that expands the business’ reach in the financial services sector and has grown its geographical footprint in Denmark.

Robin Kaneteg, co-founder and CEO of ROI said: “Firstborn has developed a unique and high performing technology for lead generation in the consumer finance space, which will support the growth of our current and future products in this sector. The Firstborn team has done an excellent job in driving its product and expansion to date and we look forward working together over the next 12 months.”

ROI is building a strong foothold within the consumer finance sector. Its innovative proposition has had success in the home improvement and maintenance sector and is scaleable across different geographies and sectors.

Joel Halling, co-founder and sales director at ROI added: “This transaction reaffirms our ambition to be the number one lead generation business in Europe and the UK. We will continue to focus on organic growth and will always be interested in other high-quality acquisition opportunities we feel we can optimise.”’

The advisors to the transaction were:

For ROI: Anecta, Squire Patton Boggs

About BGF:

• BGF was set up in 2011 and has invested more than £2.2bn in over 330 companies, making it the most active investor in the UK.
• BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs.
• BGF invests in growing businesses in the UK and Ireland through its network of 16 offices.
• In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – based on BGF’s funding model, and Australia launches the Australian Business Growth Fund in 2020.