nCino Closes Acquisition of SimpleNexus


nCino, Inc. (NASDAQ: NCNO), a provider of cloud banking and digital transformation solutions for the global financial services industry, completed its acquisition of SimpleNexus, a cloud-based, mobile-first homeownership software company, for total consideration of approximately $270m.

The deal extends nCino’s cloud-based platform with homeownership point-of-sale and mobile-first capabilities.

Led by Pierre Naudé, Chief Executive Officer, nCino provides a platform that unites the people, systems and stages of the home buying process into a single end-to-end experience, enabling loan officers, borrowers, real estate agents and settlement agents to engage in the homeownership process from any device. It is partnered with more than 1,500 financial institutions of all types and sizes on a global basis.

Founded in 2011 and led by Cathleen Schreiner Gates, Chief Executive Officer, SimpleNexus is a developer of mobile-first technology for the modern mortgage lender. Its complementary products and mobile-first offerings will unlock additional opportunities and provide value for new and existing customers, including enhancing nCino’s mobile and point-of-sale offerings across additional lines of business.

For the fourth quarter ending January 31, 2022, nCino expects SimpleNexus will contribute between $3.6 and $3.8 million in total revenues from the closing date of January 7, 2022.