Ayondo buys TradeHero
UK and Germany-based online social trading platform Ayondo has taken over Singapore-based TradeHero.
The acquisition will extend branding of the former outside of China and the US by stepping into Singapore. The announcement comes nearly a year after it inked 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 while TradeHero enables users to simulate trading stocks based on real-time data from international markets.
Dominic Morris, co-founder of TradeHero and the new Head of Innovation for Ayondo Group, said: “Ayondo and TradeHero share the same vision, that is to democratise the world of investing through easy-to-use disruptive technology and knowledge sharing.”
TradeHero’s mobile technology specialists have 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.
Robert Lempka, CEO of the ayondo Group, said: “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.”