Dutch lender ABN AMRO has accomplished the acquisition of BUX, a rising European neobroker, about seven months after coming into into the deal. The announcement at this time (Wednesday) confirmed that completion got here following regulatory approvals and the completion of the transactions.
Regardless of the acquisition, BUX will proceed to function as a separate entity from its father or mother firm, ABN AMRO. Nevertheless, the BUX brand will characteristic the financial institution’s endorsed brand to represent the backing.
By buying BUX, the Dutch financial institution has expanded its grip within the retail funding house. The acquisition positions the mixed entity because the primary platform for brand spanking new buyers within the Netherlands.
“Together with BUX, we may also help purchasers start to take management of their monetary future at an early stage of their lives,” Annerie Vreugdenhil, Chief Industrial Officer Private & Enterprise Banking of ABN AMRO, stated. “BUX has made this extraordinarily straightforward by their revolutionary and user-friendly platform. We can’t wait to construct on that and enhance our providing for future generations.”
A Rising Neobroker
Established in 2013, BUX is headquartered within the Netherlands and provides providers throughout Europe, together with Belgium, France, Germany, Spain, Italy, Austria, and Eire. In response to the corporate, it has about 500,000 purchasers throughout Europe.
“By way of this collaboration, we mix ABN AMRO’s in depth experience in private finance and investing, and its years of expertise with the capabilities supplied by BUX’s accessibility, information of future generations, and user-friendly funding platform,” stated the CEO of BUX, Yorick Naeff. “This enables us to raised serve the brand new technology of buyers whereas sustaining our pace, agility, and unwavering dedication to innovation.”
The acquisition got here when fintech firms have been rising at an incredible tempo. Lately, Revolut revealed that it closed 2023 with a pre-tax profit of £438 million, pivoting from a lack of £25.4 million within the earlier 12 months. Its income additionally surged by 95 % to £1.8 billion.
Dutch lender ABN AMRO has accomplished the acquisition of BUX, a rising European neobroker, about seven months after coming into into the deal. The announcement at this time (Wednesday) confirmed that completion got here following regulatory approvals and the completion of the transactions.
Regardless of the acquisition, BUX will proceed to function as a separate entity from its father or mother firm, ABN AMRO. Nevertheless, the BUX brand will characteristic the financial institution’s endorsed brand to represent the backing.
By buying BUX, the Dutch financial institution has expanded its grip within the retail funding house. The acquisition positions the mixed entity because the primary platform for brand spanking new buyers within the Netherlands.
“Together with BUX, we may also help purchasers start to take management of their monetary future at an early stage of their lives,” Annerie Vreugdenhil, Chief Industrial Officer Private & Enterprise Banking of ABN AMRO, stated. “BUX has made this extraordinarily straightforward by their revolutionary and user-friendly platform. We can’t wait to construct on that and enhance our providing for future generations.”
A Rising Neobroker
Established in 2013, BUX is headquartered within the Netherlands and provides providers throughout Europe, together with Belgium, France, Germany, Spain, Italy, Austria, and Eire. In response to the corporate, it has about 500,000 purchasers throughout Europe.
“By way of this collaboration, we mix ABN AMRO’s in depth experience in private finance and investing, and its years of expertise with the capabilities supplied by BUX’s accessibility, information of future generations, and user-friendly funding platform,” stated the CEO of BUX, Yorick Naeff. “This enables us to raised serve the brand new technology of buyers whereas sustaining our pace, agility, and unwavering dedication to innovation.”
The acquisition got here when fintech firms have been rising at an incredible tempo. Lately, Revolut revealed that it closed 2023 with a pre-tax profit of £438 million, pivoting from a lack of £25.4 million within the earlier 12 months. Its income additionally surged by 95 % to £1.8 billion.
