Fintech platform NowInfinity, which was acquired by Class, has passed more than 500,000 entities on its platform.
The acquisition was made earlier in the year and as a direct result of the transaction, an additional 25,000 entities had transitioned to the NowInfinity platform, which represented existing Class customers.
More than 400,000 companies were utilising the NowInfinity corporate compliance service, as well 90,000 trusts and nearly 20,000 self-managed superannuation funds (SMSFs).
Andrew Russell, Class chief executive, said bringing NowInfinity into Class helped simplify the legal document creation and entity management processes for the firm’s clients.
“As we look to launch new products and grow the NowInfinity business, we will be able to deliver increased automation and interactivity for both Class and NowInfinity customers,” Russell said.
“The figures represent NowInfinity’s biggest year on record, and June 2020 was its busiest ever month.
“Nearly 3,500 entities were incorporated using the NowInfinity platform in June and almost 25,000 companies were incorporated in the financial year. This represents 11% of the market.”