On Tuesday, Finvasia, a financial services firm that owns several investments, announced the acquisition of ZuluTrade, a major social trading network.
“At Finvasia, we appreciate innovation and creativity,” Tajinder Singh, Co-Founder and CEO of Finvasia, added. They aim to establish an ecosystem that meets people’s financial needs at all levels of savings, investing, lending, and spending.”
“ZuluTrade’s inclusion in a portfolio of services is an indication that we’re continuing to build a positive environment that benefits both institutional and retail investors. ” Tajinder added.
An early player in the social trading market
ZuluTrade is a Greek-based firm founded in 2007 and offers a social network for trading and investing. The platforms allow brokerages to use ZuluTrade as a third-party provider of popular services like copy trading by tapping into its expertise.
The purchase agreement, signed with ZuluTrade, includes AAAFx, a portfolio management license from HCMC, and is the default broker for ZuluTrade’s services.
Finvasia’s entrance into the European, North American, and Middle Eastern markets as part of its plan to grow its presence in those areas. The business is focusing on both organic and nonorganic efforts to increase its retail and institutional investor base services.
“We have established ourselves as a market leader in Europe since Finvasia expanded to the continent,” added Sarvjeet Singh Virk, Co-founder and Chief MD of Finvasia Group.
Acquiring ZuluTrade increases its market presence and includes new services.
Finvasia has several other financial services brands beyond ZuluTrade. The firm already owned the Cyprus-based broker, Fxview, and ActTrader Technologies, a technology provider.