Ayondo Pursues IPO After Reverse Takeover Deal Lapses

Here’s a quick update on our report a few weeks back that social trading company ayondo would not be undergoing a reverse takeover (RTO) IPO due to a lapsed bid from Singapore-based property developer, Starland Holdings. Today, ayondo has announced that, despite the bid falling through, it is determined to become the first fintech company to IPO on the Singapore Stock Exchange.

The Frankfurt-based company’s CEO Robert Lempka said, “The end of the RTO opens up the way for ayondo to pursue an Initial Public Offering (IPO) instead. The preparation work for an RTO and IPO is almost identical in Singapore and therefore provision is made for a listing in early 2018.”

Other parties involved in the listing include sponsor, UOB Kay Hian Private Limited, as well as the Singapore Exchange Limited (SGX). Both continue to support ayondo in its listing efforts.

Founded in 2008, ayondo offers a brokerage platform that lets users copy the moves of top traders to optimize returns. At FinovateEurope 2013, the company unveiled the newest version of its service, its London brokerage, and a trader career training curriculum. Last month, ayondo received its portfolio management license from German regulator (BaFin).

Finovate Alumni News

On Finovate.com

  • Ayondo Pursues IPO After Reverse Takeover Deal Lapses.
  • Personal Capital Launches Education Planner to Prepare You for College Costs.
  • Finastra Partners with VASCO to Offer Customers eSignLive Capability.
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Around the web

  • Cuffelinks features Jon Medved, CEO and Founder of OurCrowd.
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Ayondo Remains a Private Company after Reverse Takeover Bid Lapses

Social trading company ayondo may no longer be the first fintech company to go public on the Singapore stock exchange (SGX).

That’s because the reverse takeover (RTO) bid offer from Singapore-based property developer, Starland Holdings, lapsed on Monday. The RTO bid, initiated in June of 2016, was for $117 million (S$158 million) and would have placed ayondo on the SGX, making it the third technology company and the first fintech company to IPO on the SGX.

Frankfurt-based ayondo stated last year that it had originally opted for a reverse takeover because of “volatility in financial markets.” The RTO would have given Starland a majority stake in ayondo. According to a company update, ayondo still plans to complete the RTO later this year.

ayondo appears to be holding its own as a privately-held entity. The company reported that its U.K. arm, ayondo Markets Limited, grew revenues 95% from $9.8 million to $19 over the course of 2015 to 2016. THe company’s assets under management also grew, rising from $19 million to $35.8 million over the same timeframe.

ayondo was founded in 2008 with a mission to revolutionize retail trading. The company’s brokerage platform lets users copy the moves of top traders to optimize returns. At FinovateEurope 2013, ayondo unveiled the newest version of its service, its London brokerage, and a trader career training curriculum. Last month, the company brought on Rick Fulton as CFO.

Ayondo Opens Offices in Barcelona and Madrid

Ayondo is taking its social trading revolution to Spain.

“We are extremely excited to join the Spanish retail trading market,” ayondo co-founder and CEO Robert Lempka said. “We will introduce the new concept of Social Trading to Spanish investors.” The brokerage and social trading innovator is planning two new offices in Spain, one in Barcelona and another in Madrid. The expansion will make the country ayondo’s third major redistribution market, along with the U.K. and its native Germany.

Founder and former Activotrade CEO Raza Perez will lead ayondo’s new efforts in Spain as Head of Product. In a statement, Perez praised the “global appeal” of social trading, and pointed out how the combination of “transparency and reciprocity” in social trading provides opportunities for both new and veteran, successful traders. “It is a new form of investment which combines the principles of classical exchange trading with social media characteristics,” Perez said.

The news of ayondo’s expansion comes on the heels of the company’s announcement enabling Bitcoin trading on the platform. Within ayondo’s social trading environment, investors interested trading the digital currency for the first time  – as with any other asset available on the platform – can follow along, tracking and emulating the moves of savvier, more experienced traders. Beginners can start on the ayondo platform for as little as £1,000, and the company offers a risk-free demo account, as well. Top traders earn income by allowing other traders on platform to “tail” their trades.

With more than 2 million users in more than 190 countries using its technology, ayondo demonstrated its platform at FinovateEurope 2013. Founded in 2008 and headquartered in Germany, ayondo acquired fellow Finovate alum, TradeHero, last fall. The deal provided ayondo with exposure to Asian markets and access to a popular mobile-based, social trading technology that was the top finance app in the Apple app store in more than 90 countries. The acquisition was also seen as a step toward the ayondo’s anticipated listing on the Singapore stock exchange.

Finovate Alumni News

On Finovate.com

  • Ayondo Opens Offices in Barcelona and Madrid

Around the web

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  • Synergix features CashSentinel (in French).
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Finovate Alumni News

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  • Europe’s Got a Brand New Bank as Klarna Earns License.
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Around the web

  • Avoka wins ATB Financial Customer Onboarding Global Innovation Challenge.
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Finovate Alumni News

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  • Fiserv expands its Florida contact and servicing center by 22%.
  • Trustly partners with UATP to enable online bank payments for airfare.
  • NICE extends real-time authentication across all voice channels.
  • The Asian Review covers Ayondo’s upcoming listing on the Singapore Exchange.
  • Signifyd wins Finance Monthly’s 2017 Fintech Award for Fraud.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • StockTwits Partners with TradeIt to Expand Beyond Robinhood’s Brokerage.

On FinDEVr.com

  • SimplyTapp Launches New Payments and E-Commerce App, Gane.

Around the web

  • TransferTo partners with Wirecard to enable mobile money operators to offer mobile-to-mobile remittance services.
  • Ayondo announces deadline for 2017 social trading championship.
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Top Direct-to-Consumer Wealthtech Plays

wealthtech4

Our wealthtech industry coverage continues this week. We looked at the industry last week and reviewed the top trends earlier this month. Today we’re taking a look at industry players with B2C offerings—in other words, companies that market directly to consumers and not through businesses.

Since wealthtech is broader than just roboadvisers, we’ve divided B2C wealthtech players into seven categories and laid out our top picks for each group. Since category sizes vary, the number of our selections also vary.

Top in-house builds from traditional players
These are offerings from traditional wealth management firms that have been built in-house (or purchased and then white-labeled) and marketed under the firm’s brand.

Fully automated roboadvisers
These are online platforms that provide automated, algorithm-based portfolio management without intervention from human advisers and without personalized, one-on-one conversations with a human adviser.

screen-shot-2016-12-22-at-4-06-40-pmAcorns takes a unique approach by linking a user’s debit card and investing their “spare change”

Hybrid roboadvisers
These are traditional advisory services, including personalized conversations and actively managed portfolios blended with computerized portfolio recommendations. Business Insider reports hybrid roboadvisers will manage 10% of all investable assets by 2025.

screen-shot-2016-12-22-at-4-11-08-pmSigFig has partnered with multiple banks, including Wells Fargo, Pershing, and Citizens Bank

Non-U.S. roboadvisers

Alternative investing platforms
These are platforms that link participants to unconventional investment types, such as private equity, hedge funds, futures, real estate, etc.

screen-shot-2016-12-22-at-4-18-08-pmWith Motif, uses invest in grouped stocks and ETFs that revolve around a common theme

Non-U.S. alternative investing platforms

News and information companies
These are online platforms that help users discover news and market trends before they go mainstream. Some include social networking aspects.

screen-shot-2016-12-22-at-4-23-47-pmTickerTags helps users discover trends even before they become news

Ahead of Anticipated IPO, ayondo Acquires TradeHero

screen-shot-2016-11-15-at-10-15-26-am

Brokerage and social trading platform ayondo has acquired the TradeHero brand. Singapore-based TradeHero offers a mobile-only social trading app that competes with ayondo’s web-based brokerage platform.

The deal expands Germany-based ayondo’s footprint in Singapore and offers it access to TradeHero’s stock-market-simulation app that has been ranked the #1 finance app in the Apple app store in 90+ countries. It is expected to bolster ayondo’s 220,000 users from 195 countries.

The acquisition is strategic for ayondo and part of a string of expansion efforts. In a press release, ayondo CEO Robert Lempka said, “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.” Today’s news comes almost a year after ayondo partnered with KGI Fraser Securities to launch KGI Contrax, a platform for investors to trade Contracts for Difference.

Regarding the transition, TradeHero co-founder Dominic Morris, who will now serve as the head of innovation for ayondo Group, 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.”

screen-shot-2016-11-15-at-10-16-22-am

ayondo began its expansion into Singapore in 2014 after securing $4 million in funding from Lumnior Capital. Most recently, the company announced a $117 million reverse takeover agreement with Starland Holdings, a Singapore-based property developer. The deal, which has yet to be finalized, will mark ayondo as the first fintech company to IPO on the Singapore Exchange (SGX).

TradeHero debuted its app at FinovateAsia 2012 in Singapore. Prior to today’s acquisition, the company had raised a total of $10.5 million. ayondo most recently debuted the newest version of its platform at FinovateEurope 2013.