From payments innovation to transformation in the wealth management industry, Jasmine Azizi, a Vice President in Advent’s business & financial services team, based in Boston, offers her perspective on the trends driving change across financial services.
Payments has been a long-standing focus at Advent. What’s the backstory?
Our team has a historical “power alley” in payments. One of Advent’s earliest payments deals was the carve-out of Vantiv from Fifth Third Bank after the financial crisis. That deal, and others like Worldpay, gave us a front-row seat to some of the biggest shifts in the industry.
We saw the market move from in-person point-of-sale card swipes and traditional go-to-market channels to software-integrated payments and online commerce. That transition shaped our investment focus toward e-commerce, B2B payments, and embedded payment solutions.
Can you share an example of how that insight continues to shape Advent’s portfolio?
Xplor is a great example. The company combines business management software with payment processing for small businesses in everyday life verticals like fitness, field services, and dry cleaning.
Previously, small businesses had to buy software and payment capabilities separately, which created integration headaches and a clunky customer experience. By bringing them together, we created real value for both the business and the end consumer.
Nuvei, another company in our North American portfolio, is at the forefront of enabling global e-commerce for large enterprises.
What are some of the challenges and opportunities you see in the payments sector?
One of the challenges in payments is that customers expect 100% uptime, all the time. Any issue, whether with technology, compliance, or security can result in lost revenue for the businesses we serve. That’s why we take the obligation incredibly seriously.
We are very focused on the technology underpinning all our investments, ensuring we are investing not just for uptime today and for a seamless experience, but also to be ahead of the future. Reliability and trust are foundational in this industry.
Beyond payments, what other macro trends are you focused on?
Wealth management is undergoing a huge transformation driven by a pending transfer of wealth to the next generation.
This transfer will only accelerate the shifts we have been observing in the market: first, the move toward fiduciary alignment with fee-based vs. commission-based advice . Second, growing demand for access to alternatives – private equity, real estate, and other products that institutions have long benefited from. The ecosystem will need to adapt to deliver these in an effective and risk-adjusted way.
How does Advent support portfolio companies once you’ve invested?
Advent’s core DNA is rooted in venture capital; we love growing businesses at an inflection point where we can add value. To source deals, we prioritize developing strong relationships with all stakeholders, especially management teams and founders. We also aim to have a differentiated point of view on a business, whether through a transformative M&A plan or a value creation playbook based on our deep resources.
You’ve built much of your career at Advent. What makes it a special place to work?
Advent has been an incredible place to grow for two reasons. First, our mandate – we get to work on some of the most exciting transactions across the private equity universe, from growth deals to transformational buyouts. Second, there’s a real culture of trust, humility, and collaboration. We approach every stakeholder, whether investor peers, management teams, or advisors, with integrity and a focus on getting to the right answer.
That combination of high-caliber dealmaking and a strong culture is what makes Advent so special.
