Exactpro Systems

What Exactpro Systems does

Exactpro Systems Limited is a UK-incorporated independent software testing services provider founded in 2009, headquartered in London with offices in New York, Tbilisi, Colombo, Yerevan, Toronto, and Milan. The company specialises in AI-enabled functional, non-functional, and regulatory-compliance testing for mission-critical financial market infrastructure, serving exchanges, post-trade platforms (central counterparties, clearing and settlement operators), banks, market data providers, and market surveillance operators across 20 countries. Its core proprietary assets include the th2 enterprise test automation framework, complemented by specialised tools Sailfish, Shsha, ClearTH, and Minirobots, plus AI-native capabilities such as synthetic test data generation, market digital twins, and data-box testing techniques. Recent service-line expansion covers RAG (Retrieval-Augmented Generation) systems testing and distributed ledger technology, including smart contracts, CBDCs, and NFTs.

The firm monetises primarily through professional services engagements priced via direct business enquiries, supplemented by a PoC collaboration programme for banks and a corporate AI Testing Training programme (ISTQB-certified). GTM is enterprise field sales combined with event-driven demand generation (Boca 2026, World Federation of Exchanges webinars, SWIFT Hackathons) and content marketing via white papers, research papers, and case studies. Named enterprise clients include Connamara Technologies, Johannesburg Stock Exchange (JSE), MEMX, Athens Stock Exchange, ARTEX MTF, and BNY Mellon. Exactpro is privately held, founder-led (CEO Iosif Itkin), with no disclosed venture capital or private equity investment, suggesting organic, cash-funded growth across its 501–1,000 employee base.

Name

Exactpro Systems

Legal name

Exactpro Systems Limited

Website

https://exactpro.com/

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

Exactpro Systems is a UK-based independent provider of AI-enabled software testing services for financial market infrastructure, including exchanges, clearinghouses, banks, and market data operators across 20 countries, leveraging its proprietary th2 framework and digital twin tooling.

Ownership category

akta.pro rank

Product category

Financial Software Testing Services

NAICS

Testing Laboratories and Services (54138)

SIC

Services-Testing Laboratories (8734)

akta.pro primary industry

Quality Assurance & Testing Services (Functional, Compatibility, Compliance) (MPAFAKAA)

Keywords

• Software testing services
• Financial market infrastructure
• Test automation framework
• AI-enabled testing
• Trading systems testing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Testing Services: Independent AI-enabled software testing services for financial organizations including exchanges, post-trade platforms, and banks. Services cover functional testing, non-functional testing, regulatory compliance testing, and system-specific testing for trading, clearing, settlement, market data, and surveillance systems.
2. Corporate AI Testing Training: Corporate training programs including ISTQB AI Testing certification courses and customized AI testing training for teams. Revenue generated through training course fees ([email protected]).
3. PoC Programme: Proof-of-Concept collaboration program where Exactpro applies its proprietary AI-based Testing approach to target segments of banking infrastructure for short-term limited-scope software testing activities.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Exactpro Systems provides independent AI-enabled software testing services for mission-critical technology that underpins financial markets. The company delivers functional, non-functional, and regulatory compliance testing for exchanges, post-trade platforms, banks, and market data operators, supported by proprietary test automation tools including the th2 framework, Sailfish, Shsha, ClearTH, and Minirobots. It also offers corporate AI Testing training programs and a PoC collaboration program for banking organizations.

Product overview

Exactpro Systems is an independent provider of AI-enabled software testing services for financial sector organisations. The company offers a portfolio of proprietary test automation tools (th2 framework, Sailfish, Shsha, ClearTH, Minirobots) complemented by specialized testing services across trading, post-trade, market data, market surveillance, risk management, collateral management, and AI/RAG systems. The th2 platform serves as the core enterprise test automation framework, while individual tools like Sailfish handle specific functional testing use cases. Testing services span functional, non-functional, and regulatory compliance validation for exchanges, clearinghouses, banks, and payment infrastructure operators across 20 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• th2

Quantifiable outcome

• Decreased time to market for clients through AI-enabled testing automation
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• Connamara TechnologiescoreTechnology or Integration · 18 March 2026Connamara Technologies engaged Exactpro as independent testing provider for its EP3 exchange and clearinghouse platform. The EP3 platform powers 13 exchanges and 3 clearinghouses globally. The engagement aims to strengthen the platform's robustness, scalability, and operational resilience while providing a consolidated test library to support future development and expansion into new markets.
• BNY MelloncoreStrategic or Co-development PartnerWon SWIFT Hackathon 2022 together with BNY Mellon for digital assets ownership and interoperability challenges, demonstrating collaborative approach to financial technology innovation and testing capabilities.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hexaware Technologies: Hexaware has built a dedicated quality engineering and automated testing practice serving banking, financial services, and capital markets clients globally. Comparable to Exactpro as a testing-led services firm competing for similar enterprise wallet share.
• Thoughtworks: Thoughtworks is a global technology consultancy with strong financial services and capital markets practices, including dedicated quality engineering and testing capabilities serving exchanges and tier-1 banks. Closely aligned to Exactpro on technology-led, engineering-depth delivery model for mission-critical financial systems.
• Qualitest: Qualitest is one of the largest pure-play software quality assurance and testing services firms globally, with deep financial services testing practices serving banks, capital markets, and FinTech clients. Most directly comparable peer to Exactpro given the shared enterprise QA services model and target buyer (large financial institutions).

Broad incumbents

• EPAM Systems: EPAM is a large IT services and digital engineering firm with significant financial services testing and quality engineering practices. Overlaps with Exactpro on enterprise software QA but as one of many capabilities within a broader digital services portfolio.
• Tata Consultancy Services (TCS): TCS is one of the world's largest IT services firms with extensive capital markets and banking testing engagements through its quality engineering practice. Overlap with Exactpro is partial; TCS offers QA as part of a full-stack services portfolio rather than as its core specialization.
• Genpact: Genpact operates large digital and quality assurance practices specifically for capital markets and banking clients including risk and regulatory technology testing. Comparable in customer segment (financial sector) and adjacent in testing/validation services.
• Capgemini: Capgemini's Financial Services and Testing/Quality Engineering global practices serve top-tier banks, market infrastructure providers, and exchanges across Europe and North America. Compares to Exactpro on testing capability for capital markets clients but as part of a much wider consulting portfolio.
• Cognizant: Cognizant operates a global quality engineering and assurance practice with substantial financial services and capital markets clients including exchanges and large banks. Comparable at the testing-services layer but Cognizant serves a much broader IT services remit.
• Asseco Poland (SQS): Asseco Poland acquired SQS Software Quality Systems, one of Europe's largest dedicated software testing services firms, and continues operating a quality engineering practice across financial services. Comparable to Exactpro as a pan-European testing services specialist.

Emerging players

• Parasoft: Parasoft is a specialist vendor of automated software testing tools widely used in financial services, embedded systems, and other regulated industries. Adjacent rather than direct peer — competes at the tooling layer that complements or substitutes for Exactpro's th2-based service delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/exactpro
• LinkedInlinkedin.com/company/exactpro-systems-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Exactpro Systems