According to information obtained by Finance Magnates, Switzerland headquartered technology and brokerage company ayondo has raised another round of funding. The company intends to use the funds to continue expanding its business with a specific focus on Asia.
So far the brand has been focused mainly on the European market. While the firm’s core market is considered to be in Germany, it holds an FCA license for its social trading provider and brokerage arm.
The ayondo group received an additional CHF 6 million ($6.27 million) in funding from existing shareholders. The leading contributor is once again Singapore-based Private Equity group Luminor Capital. In 2014 ayondo has already raised CHF 9 million in growth capital. The additional funds will assist the company in its expansion as it set eyes on the lucrative Asian market for further growth.
FBS Receives Best Forex Broker Europe 2019 Award by The European MagazineGo to article >>
The company has also signed a media partnership with SevenVentures, which is behind some of the most popular German TV stations from the ProSiebenSat.1 Group. Raising brand awareness at a crucial time for German savers who are looking to diversify their investments into riskier assets amid zero percent interest rates has been a pillar for ayondo to take market share in Germany.
Speaking about ayondo group’s new funding round ,the company’s CEO, Robert Lempka said, “It’s a privilege and an endorsement of the hard work of the entire ayondo team that our existing shareholders continue to support us in our ambitious expansion plans. We are growing at breathtaking pace, our product and project pipeline is packed and we will announce new products as well as several new international business partners in the very near future.”
The company has been developing B2B and B2C trading and investment solutions in the social trading area for some time now. The company has also welcomed onboard one of the most popular investment gurus in Germany, Stefan Risse, who has topped the rankings of the social trading platform earlier this year using a strategy combining sentiment analysis with quantitative methods.