Amsterdam-based neobroker BUX announced on Monday that it has acquired the retail brokerage arm of Spanish neobroker Ninety Nine to consolidate its presence in the Spanish retail brokerage category.
Based out of Madrid, Ninety Nine is a B2B embedded finance platform that provides its partners personalised, end-to-end investing solutions. The platform enables its partners to launch retail investing services quickly and efficiently, offering US and European equities, ETF and Cryptos.
As a part of the acquisition, Ninety Nine will no longer offer B2C brokerage services in Spain and will instead focus on providing B2B & B2B2C services to banks, fintechs, and media groups. Further, Ninety Nine’s clients can continue investing with BUX.
“I am happy that in BUX, we have found a partner to whom we can entrust our retail customers with peace of mind,” says Javier Sanz Álvarez, CEO and founder of Ninety Nine.
“We have been working for over a year and a half on our B2B strategy, and while it was a difficult decision, we have decided to focus all our efforts on it. However, our clients are still very important to us, so we have been working with BUX to provide them with a great alternative to continue investing, including two free shares as a welcome gift, free migration to the BUX platform, and fees almost 50 per cent lower than current ones. I believe our retail clients will be satisfied with this solution,” he adds.
The announcement follows the launch of company’s unique Savings Plan offering, allowing customers to invest in up to 10 fractional stocks or ETFs on a monthly basis.
Earlier this year, the Dutch neobroker introduced fractional investing in some of Europe’s largest indices – AEX (The Netherlands), BEL20 (Belgium), CAC40 (France), and DAX40 (Germany).
“We are proud and delighted to help a new group of Spanish clients create a stable investment base and build a better financial future,” says Yorick Naeff, CEO at BUX.
He adds, “Thanks to this acquisition, Ninety Nine users will have access to a wide range of services provided by BUX, such as investing in Spanish, European, and US stocks, ETFs, cryptocurrencies, fractional investing, and the BUX Savings Plan. I warmly welcome Ninety Nine’s former clients and look forward to developing additional products to suit our Spanish clients.”
BUX: What you need to know
Founded in 2014 by Egbert Pronk, Joost van de Wijgerd, Nick Bortot, and Robbert Bos, BUX makes investing easier, giving everyone the chance to invest in various tools. It includes fractional shares, ETFs, and cryptocurrencies, or to just put their investing on autopilot with a BUX Savings Plan.
The company is available in the Netherlands, Belgium, France, Germany, Spain, Italy, Austria, and Ireland.
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