FTV Capital, a private equity firm that has invested in several fintech firms, has taken a majority equity stake in Docupace, which specializes in digitizing operational workflows. Terms of the transaction were not disclosed.
Simultaneously, Los Angeles-based Docupace said that David Knoch has been appointed the firm’s chief executive. Knoch, formerly president of 1st Global, a wealth management firm with a tax orientation, led the sale of the firm to Blucora, which offers tax preparation software in addition to its wealth management business.
Docupace said the capital infusion will help the firm expand its capabilities, and support and advance its product development efforts. Its platform helps advisory firms with client and adviser onboarding, document management, standardized workflows and approval processes, and compliant data storage.
FTV Capital has invested in Apex Fund Services, Enfusion, Financial Engines, InvestCloud, Riskalyze, Strata Fund Solutions and True Potential.