Brentwood software developer Ncontracts has bought a Charlotte peer that helps banks and other lenders comply with fair lending regulations, rounding out the local firm’s suite of risk management services.
Terms of Ncontracts’ deal for Trupoint Partners are not being disclosed. The North Carolina company is home to about 20 people and is now a division of NContracts run by Trey Sullivan, who had been its CEO. Ten-year-old Trupoint brings to Ncontracts a client base of about 500 institutions, which grows the company’s overall customer list to about 1,250.
“This acquisition is the natural progression of Ncontracts’ strategic growth plan,” said CEO Michael Berman, whose venture started life focused on vendor management.
“Trupoint enables us to provide a unified risk management solution and best-in-class service to help financial institutions reduce risk, improve compliance, and control costs.”
Berman and his team nearly two years ago announced they had acquired risk management dashboard developer Supernal Software, a move that grew their client base to about 750 from 650. Ncontracts is backed by San Francisco investment firm Mainsail Partners, which specializes in working with software companies and also has put money into local post-acute care-focused venture PlayMaker Health.