Vancouver, Canada – Evergreen Financial Technology Group (EFTG), a constellation of businesses serving credit unions and other financial institutions, announced today that it has acquired Lodestar Technologies, Inc. Lodestar is market leader in full-service analytics solutions supporting banks and credit unions.
“Lodestar has been a market leader and a pioneer in the space of business analytics for credit unions for over a decade,” said Steffi Decker, Evergreen Financial Technology Group CEO. She goes on to say, “Lodestar enables FIs to turn reams of data into deeper connections with their members. We are thrilled to partner with the Lodestar team to help unlock the power of this technology for more credit unions and FIs throughout the US and Canada.”
EFTG invested in Lodestar due to strong product offering and support services, its longstanding and strong client relationships and long track record of success. The company is headquartered in Vancouver, Canada.
Divya Konuru will join the Lodestar team as CEO. She will work alongside the existing team at Lodestar. This investment will enable Lodestar to increase its existing offerings and support, expand its client base and scale its operations. Lodestar plans to expand its core integrations throughout 2023 and 2024.
“We founded Lodestar in 2008 with the vision of helping financial institutions leverage data within all levels of their organizations; We are thrilled that the Evergreen Financial Technology Group will be able to take that vision to the next level” said Razad Shah.
“When we started Lodestar, we were committed to building a solution that would grow to support our clients and evolve to keep up with the security and innovation needs in the industry. We are happy that Evergreen Financial Technology Group recognizes the value of what we built and is continuing to invest in our technology and our team,” shared Malak Hanna.
Patrick O’Neill added, “the Evergreen Financial Technology Group shares our core values of integrity, client commitment, and care; this is one of the many reasons we were delighted to select EFTG as the permanent home for this business.”
EFTG will continue its mission to invest in top-tier software and service businesses supporting financial institutions and enable growth within these companies.
About Lodestar Technologies, Inc.
Founded in 2008, Lodestar provides data warehousing, business intelligence analytics and professional services solutions to financial institutions. From best-in-class technology to decades of industry experience, we support our clients no matter where they are – and where they want to go – on their analytics journey. For more information, visit www.lodestartech.ca.
About Evergreen Financial Technology Group (EFTG)
Evergreen Financial Technology Group (EFTG) is a division of Evergreen Services Group focused on software and service businesses supporting financial institutions. Communities everywhere count on local financial institutions, and financial institutions count on a host of software and services providers in order to compete in today’s competitive landscape.
EFTG’s vision and mission is to invest in the great software and services businesses that support those financial institutions. EFTG believes in the value of permanence. EFTG’s parent company Evergreen Services Group has acquired over 60 companies and sold zero.
About Evergreen Services Group
Evergreen Services Group is a holding company of leading service companies. Owners and founders of service businesses trust Evergreen to help them achieve their long-term goals and to steward their legacy. Evergreen differentiates itself by providing a permanent home for founder-led businesses that care deeply about their customers and employees. For more Evergreen Services Group news and information, visit www.evergreensg.com
Contacts
Lodestar Technologies, Inc.
Colin Phillips, 604-616-0705
COO
colin.phillips@lodestartech.ca
Evergreen Financial Technology Group
Steffi Decker, 914-715-4495
CEO
Evergreen Services Group
Ramsey Sahyoun, 415-591-1318
Head of M&A