What does Class do?
Class has been developing and delivering cloud software solutions for the Australian wealth accounting market since 2009.
Its mission is to deliver innovative administration solutions that automate manual workloads, driving high levels of processing efficiency and scalability and supporting accountants and their clients with delivering digital SMSFs.
Class software enables accountants, administrators and advisers to increase profitability, fuel business growth and deliver better client service. Class is the leading provider of cloud-based administration software for SMSFs, with almost 30% of all SMSFs administered on Class Super.
What products do Class offer?
- Class Super is the leading cloud-based SMSF administration software, used by accountants, administrators and advisers. Over 1500 firms across Australia rely on Class Super to quickly and efficiently administer more than 180,000 SMSFs.
- Class Portfolio is a powerful cloud software solution for streamlining investment portfolio accounting, administration and reporting.
- Class Trust is an upcoming platform aimed at servicing the investment trust space.
What is the strategic rationale behind the acquisition?
Class is delivering on its Reimagination strategy that will see it expand its role across the professional services ecosystems. That strategy means the Class business is constantly looking for new opportunities to grow, and this acquisition is complementary to Class in terms of culture, technology and customer base.
NowInfinity and Class are aligned in terms of our passion for solving pain points through technology that delivers efficiencies through automation and advanced solutions.
Importantly, it will enable Class to execute on its ambition of providing a broader set of products and services to our customers, which will be further enhanced through stronger integration of both platforms over the medium term.
What’s the vision for both companies?
NowInfinity thrives on seeing business succeed and is naturally aligned to the Class vision of ‘Reimagining a more simple, automated world for our customers, and they will love it.’ Our value propositions also fit, neatly centred around simplification, automation and connectivity.
In the short term, NowInfinity will continue to service its members as it has. Class will begin examining ways both businesses can benefit from each other’s capability, knowledge, and processes.
What will happen to the NowInfinity team?
The current executive team will continue to work in the business and the head office will remain located on the Gold Coast.
NowInfinity Founder and CEO Amreeta Abbott will join the Class executive team as Chief of Innovation and Growth. Amreeta and her team will look at opportunities to leverage the expertise of both teams across Sydney and the Gold Coast.
Will there be changes to current pricing?
NowInfinity will continue to operate as it has while we examine the options of enhancing the combined product suite, to bring further value, features and functionality alongside Class. Importantly, Class aims to provide both sets of customers greater value and efficiency through better integration of both platforms.
How will the acquisition impact NowInfinity?
We will naturally be looking for immediate opportunities to introduce the NowInfinity product suite to Class customers. Over the medium term, we will bring new innovative products to market that help professional services firms improve their business.
What does this mean for existing partners of NowInfinity?
NowInfinity remains fully committed to its partnering strategy and NowInfinity Members will continue to have access to a range of partners across the business value chain.
What are the details of the purchase?
To be finalised.