Skip to main content

nCino To Acquire SimpleNexus

Director of Events
Nov 19, 2021

Cloud banking and digital transformation solutions company, nCino Inc., signed a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at an estimated $1.2 billion.

With the acquisition, nCino and SimpleNexus will work together to continue innovating for the IMB community while accelerating the adoption of the SimpleNexus homeownership platform by U.S. banks and credit unions, where nCino currently has over 1,100 customers, according to a press release.

The two companies will also work together to leverage SimpleNexus’ consumer front-end technology and domain expertise to accelerate the development of nCino’s mobile and point-of-sale offerings across additional lines of business. 

“Their innovative solution and deep subject matter expertise in consumer front-end technology will extend our capabilities to the U.S. point-of-sale mortgage space and enhance nCino’s mobile and point-of-sale offerings, unlocking additional opportunities and value for our customers and their clients,” said Pierre Naudé, CEO of nCino.

SimpleNexus serves more than 300 independent mortgage banks (IMBs), over 80 banks and credit unions, and more than 41,000 loan originators nationwide, according to the company. The company also revealed that during the first nine months of 2021, more than one in every seven mortgage originations in the U.S. leveraged SimpleNexus’ software.

Providing a natural expansion of nCino’s capabilities to the U.S. point-of-sale mortgage market, the acquisition of SimpleNexus initially expands nCino’s serviceable addressable market by over $4 billion. Similar to nCino, SimpleNexus operates a per-seat subscription-based revenue model, enabling the company to generate financial results that are more predictable, recurring, and not based on mortgage transaction volumes.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Nov 19, 2021
More from
Tech
Navigating The Future Of Marketing Technology

Take inspiration from these tomorrow-oriented improvements and see how they could be adapted

Mar 18, 2024
Women Of Tech 2024

Honoring Women Of Mortgage Technology

Mar 18, 2024
Manually Scrubbing For HMDA Compliance? It’s Time To Automate

Investing in digital transformation systems provides a significant advantage over “wait-and-see” institutions

Feb 26, 2024
From Figure Eights to Mortgage Rates

From Team USA’s grace to financial services’ embrace, Matthew Blackmer draws parallels from his past to the future

Jan 31, 2024
Commissions Alert: Pop Your Profits And Don't Leave A Penny On The Table

Lenders need better tech to help homeowners unlock $20 trillion in tappable equity

Dec 21, 2023
The Road To Success In 2024

A loan servicer’s perspectives on the year ahead

Dec 18, 2023