First Fintech Soon to be Listed on SGX?

Fintech firm Ayondo is engaged in negotiations with a SGX-listed company on a Reverse Takeover transaction. This could result in Ayondo being the first fintech to be listed on the Singapore Exchange.

German based financial technology group Ayondo has acquired a Singapore investor education app that has been ranked the number one finance app in the Apple iOS app in over 90 countries, according to a press release sent on Tuesday.

The acquisition for TradeHero’s brand outside of China and the United States for an undisclosed sum, expands Ayondo’s footprint in Singapore nearly a year after it announced a partnership with KGI Fraser Securities to launch KGI Contrax, a platform for investors to trade Contracts for Difference (CFD).

In Advanced Negociations

The group is also engaged in advanced negotiations with a SGX-listed company on a Reverse Takeover (RTO) transaction. This could result in Ayondo being the first fintech company to be listed on the Singapore Exchange (SGX) and the headoffice being moved to Asia’s fintech hub.

Ayondo Singapore recently moved to a new office in newly renovated premises at Armenian Street. The branch was established in 2014 after Singapore-based private equity fund, Luminor Capital, became a significant stakeholder in the fintech group.

Missing Piece in the Product Range

Ayondo’s social trading platform allows retail investors to copy the trades of experts. «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,» Robert Lempka, CEO of the Ayondo Group, said.

TradeHero, created by Dominic Morris and Dinesh Bhatiain 2012, is a gamified virtual investment network where users share real time insights and trade and compete to win real cash.With TradeHero, users can replicate the behavior of other successful app users as the app will notify followers when a so-called «Hero» has made a trade.

Pioneering Business Model

Lempka explains: «Following Top Traders and taking social trading to the next level, in offering fully automated execution is exactly what is in Ayondo’s DNA.»

Morris, co-founder of TradeHero and the new Head of Innovation for Ayondo Group, adds: «Ayondo is well positioned with its pioneering business model and scalable solutions for B2B and B2C clients.» With over 220,000 users from 195 countries, Ayondo offers a new and highly attractive way of investing in global financial markets.

The team of TradeHero’s mobile technology specialists built the foundation for Ayondo’s Singapore based Mobile Lab, where the latest research and development takes place giving the group an edge in designing, building, experimenting and refining new technologies for ist platforms.

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