Acuity advises ELCY on its sale to Surecomp

ELCY Ltd (ELCY), a UK-based digital trade finance solution provider has been acquired by Surecomp. This strategic move reinforces Surecomp’s commitment to driving digital trade finance transformation through innovation and collaboration. The ELCY multi-bank solution, elcyMBP, will become a module on Surecomp’s RIVO™ platform, creating a more consolidated digital trade finance ecosystem, enabling Surecomp to deliver even greater value, efficiency, transparency and growth.

Founded in 2001, ELCY is closely aligned to Surecomp in heritage, vision, expertise and technical infrastructure. A Software-as-a-Service native solution also powered by Amazon Web Services (AWS), ELCY has a strong customer franchise across Europe and Asia with many large multinational firms particularly in the commodities sector using elcyMBP to streamline workflows and centralize bank communication. In welcoming ELCY customers and technology onto RIVO™, Surecomp prioritises business continuity and a seamless customer experience, while creating access to a broader global network and extended functionality.

“We are thrilled to add ELCY to our solution suite,” said Guy Perry, Surecomp’s President and CEO. “Following a strong year and momentum building in digital trade finance adoption, we are proud to expand our network with such prestigious customers and ensure a smooth and uninterrupted service. With ELCY’s proven technology and talented team, we can further enhance our offering and continue to expertly meet the integrated end-to-end processing needs of customers across multiple industries.”

“This is a very exciting time for the digital trade finance landscape,” said ELCY founder, Robin Cohen. “Joining forces with Surecomp, being able to leverage its expertise, global reach and integrated back-office solution provides us with a platform to deliver even greater value to our clients. Together, we are extremely well-positioned to shape the future of digital trade.”

Robin Cohen, Founder of ELCY said:

“Acuity handled the sale of our business in a highly efficient and professional manner from start to finish. Andy, David and James worked tirelessly on our project, expertly handling all the  pressure points and were always on hand with timely advice to help navigate a way forward. Their commitment and dedication to the project was instrumental in bringing about a successful conclusion. The team at Acuity were a pleasure to work with and we would have no hesitation in recommending their services.”

James Cull, Vice President at Acuity said:

“We were very pleased to support the ELCY shareholders in this landmark transaction within the digital trade finance sector, as the market continues to evolve and consolidate. It has been an absolute pleasure working with the team, and we wish them every success in the future.”

David Copp, Director at Acuity said:

“We are delighted to have secured a great outcome for the ELCY shareholders and we look forward to seeing ELCY and Surecomp thrive under this new business combination. We are also pleased to extend our track record in the trade finance software space and support ongoing market consolidation.”