ACTIV Financial Systems

activfinancial.com →

-73%

est. 2Y upside i

FinTechSeries B

Rank

#3432

Sector

Financial Software

Est. Liquidity

~3Y

Data Quality

Data: Low

The equity opportunity is tied to Options Technology, which acquired ACTIV Financial Systems in 2021.

Last updated: March 10, 2026

Bull (20%)+75%

Options Technology successfully integrates ACTIV Financial and other acquisitions like Fixnetix, leveraging its expanded market data and IT infrastructure offerings to capture significant market share, especially with new AI-driven solutions like PrivateMind. This drives Options' revenue to $350M+ and justifies a $1.5B valuation, a 75% increase for the parent company.

Base (55%)+20%

Options Technology achieves steady growth by effectively integrating ACTIV Financial and other recent acquisitions, expanding its managed services and market data offerings within the capital markets. The company maintains its competitive position, reaching $280M-$300M in revenue and a $1B valuation, a 20% increase for the parent company.

Bear (25%)-40%

Options Technology faces significant integration challenges with ACTIV Financial and other acquisitions, leading to customer churn or slower-than-expected growth in its market data services. Intense competition from dominant incumbents like Bloomberg and Refinitiv, coupled with a challenging financial market environment, compresses margins, resulting in a valuation for Options Technology of $500M, a 40% decrease.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Options Technology has an estimated total funding of approximately $450M from prior venture rounds and significant private equity investments. With an estimated current valuation of $850M, this implies a funding intensity of 52.9%, indicating a severe preference stack ahead of common shareholders.

Dilution Risk

moderate

As a private equity-backed company, significant further dilutive equity rounds are less likely, but smaller acquisitions or management incentive plans could still lead to some dilution.

Secondary Liquidity

limited

Private equity-backed companies typically do not have active secondary markets for common stock, though tender offers might occur during ownership changes (e.g., Abry to Vitruvian).

Other — 12 roles

View all 12 open roles at ACTIV Financial Systems →

Last updated: February 18, 2026

Questions to Ask at the Interview

Strategic questions based on ACTIV Financial Systems's data — designed to show you've done your homework.

  • 1

    “How is Options Technology thinking about integrating ACTIV Financial's market data offerings to differentiate against dominant incumbents like Bloomberg and Refinitiv, particularly in terms of new product development or geographic expansion?”

  • 2

    “Given Options Technology's strategy of acquiring companies like ACTIV and Fixnetix, what is the long-term vision for consolidating these services, and how will ACTIV's revenue contribution evolve within the larger organization over the next 2-3 years?”

  • 3

    “With Options Technology being backed by Vitruvian Partners, how does the company envision the timeline and potential exit scenarios (e.g., IPO, further acquisition) for the firm, and what are the implications for employee equity holders?”

Community

Valuation Sentiment

Our model estimates -73% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.