Ayondo, a social trading technology developer for the financial services industry, has acquired the TradeHero brand, a Singapore-based trading gamification app.
The acquisition for TradeHero’s brand outside of China and the United States, expands ayondo’s footprint in Singapore nearly a year after it announced a partnership with KGI Fraser Securities Pte Ltd to launch KGI Contrax, a platform for investors to trade Contracts for Difference (CFD).
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. 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 Group, 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.”
The team of TradeHero’s mobile technology specialists built the foundation for ayondo’s Singapore based Mobile Lab, where the group’s latest research and development takes place. The group is 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 head office being moved to Asia’s fintech hub.