Integrated Financial Holdings, owner of wrap platform Transact, has acquired a 15 per cent stake in wealth management technology company Sprint Enterprise Technology.

Integrated Financial Holdings, owner of wrap platform Transact, has acquired a 15 per cent stake in wealth management technology company Sprint Enterprise Technology.

The groups said in a statement that the investment will enable Sprint to continue to develop Fastrak, a cloud-based technology platform that aggregates investment data from across wrap platforms and non-platform assets, back office and fund providers.

Under the arrangement, Jonathan Gunby, chief development officer at Transact, will join Sprint’s board.

“The investment underscores the credibility of our proposition and the potential for growth in our business. It will help us to remain at the cutting edge of innovation, delivering tangible benefits to our clients, without compromising our independence,” said Christopher Willmott, chief executive of Sprint.