The Tifin Group, a Boulder-based venture capital firm that focuses on the financial technology industry, has sold off 55 Institutional Partners LLC, a fintech firm known as 55ip, to J.P. Morgan Asset Management Inc.
55ip has developed tax automation software for investment advisors.
Terms of the deal were not disclosed.
“55ip’s purpose is to break down barriers to financial progress, by finding better ways to help more people through intelligent automation. Being part of J.P. Morgan will enhance our ability to do just that, accelerating our innovation and broadening access to our tax-smart investment strategy engine,” 55ip CEO Paul Gamble said in a statement. “The Tifin team was instrumental in helping us on our path to achieve this mission and navigate the company’s hypergrowth. We couldn’t be more thankful for its support.”
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