Affiliate Group Investoo announced today that it has acquired Bitcoinmag.de, the German language portal for the cryptocurrency market. The site will complete the group’s existing portfolio of cryptocurrency holdings, including ethereum-kaufen.de and coinlist.me.
The acquisition of Bitcoinmag.de expands Investoo Group’s reach in international markets. It already serves Spanish, French, Italian and German customers.
Chairman David Merry said of the acquisition: “Germany is a relatively mature market when it comes to both paying with, and investing in, cryptocurrency. We’re delighted to acquire a publication that explains the investment process simply and transparently.”
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CEO Adam Grunwerg commented: “Bitcoinmag.de is an online community and information portal run by crypto investors, for investors. It boasts impressive organic reach, and provides a valuable traffic source for our partners.”
The acquisition of Bitcoinmag.de follows a new GBP 7.5 million (approx. USD 10 million) credit line secured in October 2017, which is designed to facilitate the firm’s aggressive growth strategy. The company has acquired several businesses in 2017, including invezz.com and 100forexbrokers.com.
As we wrote before, forex affiliate portals have been under increased regulatory scrutiny lately for providing financial advice without the proper authorization. Brokers regulated by CySEC, for example, are required to carefully supervise the content used by affiliates in order to ensure that clients are not targeted with misleading marketing messages. This might propel affiliate groups such as Investoo to turn to the abundant new field of cryptocurrency trading.