Affiliate Group Investoo has announced that it has secured new funds from private lenders and shareholders of the venture. The firm has been actively engaged in acquiring affiliate websites throughout the year after announcing deals with Invezz.com, RoboAdvisors.com and SocialTradingGuru.com.
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The credit line amounts to up to £7.5 million ($10 million). Investoo is not only committing to further investments in affiliates from the trading industry but also aims to widen its scope. Areas such as consumer finance, money transfers, and savings also present an opportunity.
The company is focusing on building a portfolio of personal finance-focused sites that complement its existing array of financial news sites. The company also has online cryptocurrency resources and broker review sites.
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Commenting on the news, the Chairman of the Group, David Merry, said: “We have developed an enviable portfolio of valuable sites in a short amount of time, and this funding will allow us to continue our remarkable growth trajectory.”
“We’re expanding into new niches where we will focus on individuals taking the best investment decisions possible. We’re especially excited about this credit line because it will allow us to do what we do best – deliver sites that educate and inform, giving consumers the power to invest with confidence,” elaborated CEO Adam Grunwerg.
The affiliate marketing industry has been of material importance for the growth of the FX industry. With the development of the business model, brokers started opening their own news portals, aiming to secure enough resources to attract new clients.
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.