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BUX, a financial services company headquartered in the Netherlands, has expanded its European footprint with the recent acquisition of the retail brokerage arm of Spanish neobroker Ninety Nine.
The acquisition, which was officially announced on Monday, strengthens BUX’s presence in the Spanish retail securities sector. The purpose of the transaction is to capture Ninety Nine’s existing customer base by migrating its retail user base to the platform.
BUX CEO Yorick Naeff said: Thanks to this acquisition, 99 users will have access to the wide range of services offered by BUX, including investments in Spanish, European and US equities, ETFs, cryptocurrencies, partial investments and investments in BUX savings plans. .”
Moreover, after the acquisition, the Ninety Nine brand will no longer provide B2C brokerage services. Focusing resources solely on providing his B2B and B2B2C services to banks, fintechs and media groups.
We have been working on our B2B strategy for over a year and a half. It was a difficult decision, but we decided to focus all our efforts on it, said Javier Sanz Alvarez, Founder and CEO of 999. said. .
But our clients are still very important to us, so we have worked with BUX to provide a great alternative to continue investing. It includes 2 free shares as, free transition to BUX platform, and almost 50% lower fees than what is currently available.
The BUX offering in Europe includes a range of services such as commission-free stock trading, fractional stocks, and even trading services with contracts for difference and cryptocurrencies. We currently have over 1 million customers.
The platform is actively expanding its footprint on the continent. It currently operates in the Netherlands, Belgium, France, Germany, Spain, Italy, Austria and Ireland. In addition, it has a subsidiary in the UK and after Brexit has shifted a large part of its customer base to his EU-based sister company. The UK firm’s earnings halved to 9.1m in 2021, with a loss of more than 4.2m at the end of the year.
BUX, a financial services company headquartered in the Netherlands, has expanded its European footprint with the recent acquisition of the retail brokerage arm of Spanish neobroker Ninety Nine.
The acquisition, which was officially announced on Monday, strengthens BUX’s presence in the Spanish retail securities sector. The purpose of the transaction is to capture Ninety Nine’s existing customer base by migrating its retail user base to the platform.
BUX CEO Yorick Naeff said: Thanks to this acquisition, 99 users will have access to the wide range of services offered by BUX, including investments in Spanish, European and US equities, ETFs, cryptocurrencies, partial investments and investments in BUX savings plans. .”
Moreover, after the acquisition, the Ninety Nine brand will no longer provide B2C brokerage services. Focusing resources solely on providing his B2B and B2B2C services to banks, fintechs and media groups.
We have been working on our B2B strategy for over a year and a half. It was a difficult decision, but we decided to focus all our efforts on it, said Javier Sanz Alvarez, Founder and CEO of 999. said. .
But our clients are still very important to us, so we have worked with BUX to provide a great alternative to continue investing. It includes 2 free shares as, free transition to BUX platform, and almost 50% lower fees than what is currently available.
The BUX offering in Europe includes a range of services such as commission-free stock trading, fractional stocks, and even trading services with contracts for difference and cryptocurrencies. We currently have over 1 million customers.
The platform is actively expanding its footprint on the continent. It currently operates in the Netherlands, Belgium, France, Germany, Spain, Italy, Austria and Ireland. Additionally, it has a subsidiary in the UK and after Brexit has migrated a large portion of its customer base to his EU-based sister company. The UK company’s earnings were halved to 9.1m in 2021, with a loss of more than 4.2m at the end of the year.
