UK and Germany-based online social trading platform ayondo has taken over Singapore-based TradeHero. The acquisition will extend branding of the former outside of China and the United States by stepping into Singapore. The announcement comes nearly a year after it inked a partnership with KGI Fraser Securities Pte Ltd to launch KGI Contrax, a platform for investors to trade Contracts for Difference (CFD).
The collaboration of the two firms is clear. ayondo’s social trading platform allows retail investors to copy the trades of experts while TradeHero enables users to simulate trading stocks based on real-time data from international markets. Dominic Morris, co-founder of TradeHero and the new Head of Innovation for ayondo Group, in an official press release, said,
ayondo and TradeHero share the same vision, that is to democratise the world of investing through easy-to-use disruptive technology and knowledge sharing.
ayondo is expanding into Asia in full swing. It is engaged in advanced negotiations with a SGX-listed company on a Reverse Takeover (RTO) transaction which could result in ayondo being the first FinTech company to be listed on the Singapore Exchange (SGX) and the head office being relocated to Asia’s fintech hub. It is well positioned with its pioneering business model and scalable solutions for B2B and B2C clients. With over 220,000 users from 195 countries, the company offers a new and highly attractive way of investing in global financial markets.
TradeHero’s mobile technology specialists have built the foundation for ayondo’s Singapore based Mobile Lab, where the latest research and development takes place giving the group an edge in designing, building, experimenting and refining new technologies for its platforms. Robert Lempka, CEO of the ayondo Group, says,
For ayondo, mobile technology is a big part of the Group’s strategy for expansion and growth. The TradeHero brand is extremely well established in Asia and was the missing piece in our product range.
In 2014, ayondo opened its first office outside of Europe in Singapore, after private equity fund Luminor Capital became a convertible bond holder in the firm.
