WealthTech company Infront has entered into an agreement for the acquisition of Assetmax AG.
According to Infront, the acquisition represents an important milestone for the company and further strengthens its product offering for wealth management customers across Europe.
The acquisition of Assetmax by Infront expected to be completed by the end of September at the latest, subject to customary conditions.
Infront CEO Zlatko Vucetic said, “We are very excited to welcome Assetmax to the Infront family. We look forward to working closely with its founders and wonderful team to continue their impressive organic growth, while developing best-in-class solutions for buy-side customers. The Assetmax portfolio management solution will strengthen the Infront Wealth Management suite.”
Massimo Ferrari, CEO and co-founder of Assetmax, added “As part of Infront’s pan-European team, we will be able to both enhance our solution for current customers and introduce the Assetmax solution to new customers. European wealth management advisors need the solutions and data that we can provide together. I’m thrilled to be joining the Infront team at this exciting time for European financial markets.”
Zopa Bank has hit the £2bn deposit mark only two years after the company launched its challenger bank.
According to Finextra, the challenger bank hit the £2bn milestone only eight months after passing the £1bn mark, which was boosted by its smart saver easy access account and fixed term savings product.
Zopa recently achieved profitability for the first time just 21 months after acquiring its UK banking licence.
Since the launch of its bank in 2020, Zopa has attracted £2bn in deposits, more than £1.5bn of loans on its balance sheet, issued 350,000 credit cards and tripled its revenue per customer.
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