The ayondo group, a company focused on new technologies and high-growth business models that can achieve increased efficiency in the banking sector, received an additional SGD5m in funding.
Singapore-based Private Equity group Luminor Capital made the investment.
The company will use the funds to expand internationally (it recently opened a Singaporean office).
Led by Robert Lempka, CEO, the ayondo group operated as an investment group under the name Next Generation Finance Invest until April 2014 investing in innovative companies and technologies in the financial technology space (FinTech) since 2008.
The company already covers a broad spectrum of services in the Finance 2.0 field covering both retail and institutional sectors. Belonging to the portfolio of the holding company is the Social Trading provider ayondo GmbH, whose headquarters are in Frankfurt, as well as the broker ayondo markets Ltd. (formerly Gekko Global Markets), headquartered in London.