It was revealed today that UK-based fintech firm Oval Money Ltd. will be acquired by Swiss private equity firm, Guru Capital.
Oval Money will be integrated with CFD broker ETX Capital, which Guru bought last year from UK private equity firm, JRJ Group.
Guru is said to be negotiating the acquisition of 100% of the shares of Oval Money Ltd’s Spanish regulated subsidiary, Oval Marketplace AV. by an associated fund.
Guru Capital has stated that the merger ETX’s and Oval’s goals to allow access to a wide range of financial services.
Launched in 2017, Oval Money Ltd. offers savings and investment options to more than 350,000 users via a mobile app. The company was incorporated by Italian entrepreneur Benedetta Arese in 2016. The company is backed by crowdfunding platform Starteed.com
Guru Capital expansion follows the acquisition of ETX Capital, finalized in October last year. Now with Oval, the company is focused on accelerating business growth and client engagement.
