Guru Capital has reached an agreement for the acquisition of substantially all the assets of UK based Fintech company Oval Money Ltd.
Oval will be acquired by and integrated into the UK based online CFD Broker ETX Capital, a Guru Capital portfolio company.
In addition, Guru Capital is in the process of negotiating the acquisition by an associated fund of 100% of the shares of Oval Money Ltd’s Spanish regulated investment firm subsidiary, Oval Marketplace A.V., S.L.
These acquisitions will help accelerate business growth and client engagement by supporting clients in setting smart rules for defining their savings habits and investment goals, making payments, and tracking spending as well as trading in the financial markets through a single mobile app.
Launched in 2017, Oval operates a mobile app that has over 100,000 active users, enabling them to save and invest through their marketplace of financial products, automatically and on a recurring basis.
Founded in 1965, ETX is an online CFD and Financial Spread Betting brokers providing online trading services primarily to UK and European clients with access to over 5,000 markets including Stocks, Indices, Commodities, Forex and Cryptocurrencies.