PE Tech Report


Like this article?

Sign up to our free newsletter

ayondo acquires Singapore fintech brand TradeHero

Financial technology group ayondo has acquired the TradeHero brand, a Singapore investor education app that has been ranked the number one Apple iOS finance app in over 90 countries.

The acquisition for TradeHero’s brand outside of China and the US, further 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).
ayondo’s social trading platform allows retail investors to copy the trades of experts.
Robert Lempka, CEO of the ayondo Group, says: “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.”
TradeHero, created by Dominic Morris and Dinesh Bhatia in 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 behaviour of other successful app users as the app will notify followers when a so-called “Hero” has made a trade.
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.”
Dominic Morris, co-founder of TradeHero and the new head of innovation for ayondo, adds: “ayondo and TradeHero share the same vision, that is to democratise the world of investing through easy-to-use disruptive technology and knowledge sharing.”
ayondo has over 220,000 users from 195 countries.
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 its platforms.
ayondo is engaged in advanced negotiations with a SGX-listed company on a reverse takeover transaction. This could result in ayondo being the first FinTech company to be listed on the Singapore Exchange (SGX) and the head office being moved to Asia’s fintech hub.

Like this article? Sign up to our free newsletter