Breaking: BUX in Exploratory Talks to Buy UK Subsidiary of ayondo

The father or mother firm of buying and selling app BUX, BUX Holding B.V., is in talks to amass Ayondo Markets Ltd. The purchaser, headquartered in Amsterdam is at current a tied agent and the biggest consumer of the FCA-regulated subsidiary of Singapore-listed ayondo Ltd.

The firms signed a non-binding Head of Terms doc earlier this month. A potential acquisition by BUX will allow the corporate to quickly broaden its enterprise round Europe. Last 12 months, the agency introduced that it’s engaged on a zero-commission inventory buying and selling app, a market which stays unexplored and is poised to take off within the area.

Any potential new possession of ayondo Markets UK is just not going to have an effect on the operations of ayondo in Europe. The firm will proceed to ship to European shoppers its social buying and selling utility. The firm additionally plans to broaden its providers into Asia.

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BUX and ayondo Cooperation

Any potential deal shall be subjected to a overview by the UK Financial Conduct Authority (FCA) after the businesses submit an utility to the regulator.

While each firms will proceed to deal with their core companies, they intend to proceed cooperating. If a transaction is to happen, the shoppers of ayondo registered with the UK subsidiary will proceed to be serviced by the UK firm. 

Commenting to Finance Magnates, the interim CEO of ayondo, Mark Street stated: “Our major strategic focus going ahead is to focus on additional improvement of our Social Trading enterprise and to include this into the a number of alternatives we see in Asia. We will proceed to have an in depth working relationship with BUX, who we regard as an essential long run enterprise companion.”

BUX Expansion

“After the combination of ayondo UK’s know-how and operations, we will serve our prospects even higher and make it simpler to introduce new options extra rapidly,” elaborated to Finance Magnates the CEO of BUX, Nick Bortot.

BUX has been round since 2014 when the corporate ventured into the buying and selling trade with an progressive cellular app for buying and selling foreign exchange and CFDs. The firm lately introduced its plans to launch a zero-commission inventory buying and selling app.

The firm is headquartered in Amsterdam and is backed by Holtzbrinck Ventures, Velocity Capital, Finch Capital, and Initial Capital. The firm additionally raised over €1.four million on Seedrs.

The agency’s transfer to amass a UK firm solidifies the presence of the dealer within the UK market, the place the agency has a following since its early days.

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