just now
May 14, 2021 - Guru Capital, the independent Swiss-based private equity firm focusing on strategic investments in the financial services industry, has today announced that an agreement has been reached today for the acquisition of substantially all the assets of UK based Fintech company Oval Money Ltd. Oval Money will be acquired by and integrated into the UK based online CFD Broker ETX Capital, which is a Guru Capital portfolio company.
In addition, Guru Capital is in the process of negotiating the acquisition by an associated fund of 100% of the shares of Oval Money Ltd’s Spanish regulated investment firm subsidiary, Oval Marketplace A.V., S.L.
These acquisitions support ETX’s and Oval’s shared mission of making a wide range of financial services and products accessible and affordable to everyone. The combination will help accelerate business growth and client engagement by supporting clients in setting smart rules for defining their savings habits and investment goals, making payments, and tracking spending as well as trading in the financial markets through a single mobile app.
Guru Capital completed the acquisition of ETX Capital from UK private equity firm JRJ Group in October 2020.
