Finvasia, a financial services holding company, announced on Tuesday that it has acquired a major social trading network, ZuluTrade to increase its share in the investment market.
“At Finvasia, we value creativity and innovation,” Tajinder Singh, Co-Founder and CEO at Finvasia, said. “Our goal is to create an ecosystem that supports the financial needs of an individual across investing, saving, spending and lending.”
“Adding ZuluTrade to our suite of offerings is another step in creating a wholesome ecosystem that will broaden our technological offerings across institutional and retail investors.”
An Early Player in Social Trading Market
Headquartered in Greece, ZuluTrade was founded in 2007 and is offering a social network for trading and investing. The platforms enable brokerages to tap its services as a third party for providing popular services like copy trading.
Along with ZuluTrade, the acquisition deal includes AAAFx, which holds a portfolio management license from HCMC and is the default broker for the services of ZuluTrade.
The acquisition came as a part of Finvasia’s push to expand its presence across Europe, North America and the Middle East. The company is making various organic and inorganic attempts to expand offerings for its retail and institutional investor base.
“Since Finvasia expanded into Europe, we continue to cement our footprint in this fast-growing and sizable fintech and financial services market,” added Sarvjeet Singh Virk, Co-founder and Chief Managing Director of Finvasia Group.
“We are excited to acquire ZuluTrade, which further enhances our offering and widens our customer base across Europe and around the world.”
Apart from ZuluTrade, Finvasia owns more than a dozen financial services brands. Earlier this year, the company acquired the Cyprus-based broker, Fxview and the tech provider, ActTrader Technologies.
