Well that didn’t take long.
Less than a week after we exclusively reported that VC-backed Investoo Group had raised $10 million with a specific mandate to pursue acquisitions, the company has reported that it has purchased Bitcoinmag.de, expanding its reach into the DACH cryptocurrency market.
Bitcoinmag.de is a German language resource site for crypto investors, providing purchase and price information, and allowing visitors to compare exchanges and platforms.
Investoo Group has grown to become one of the largest affiliates to FX and cryptocurrency brokers. Investoo has already been actively consolidating the FX affiliate space, making no less than four acquisitions since December 2016 including SocialTradingGuru.com, Invezz.com, 100ForexBrokers.com, and most recently RoboAdvisors.com in early October.
The newly-acquired site site will sit along-side an existing portfolio of cryptocurrency resources at Investoo, including ethereum-kaufen.de and coinlist.me. The acquisition of Bitcoinmag.de cements Investoo Group’s reach into international markets – the firm already serves Spanish, French, Italian and German audiences.
David Merry, Investoo
Investoo Chairman David Merry said of the acquisition:
Germany is a relatively mature market when it comes to both paying with, and investing in, cryptocurrency. We’re delighted to acquire a publication that explains the investment process simply and transparently.
CEO Adam Grunwerg commented:
Bitcoinmag.de is an online community and information portal run by crypto investors, for investors. It boasts impressive organic reach, and provides a valuable traffic source for our partners.