Swiss private equity firm Andromeda Capital Partners Suisse AG acquires majority stake in Amsterdam’s Change Group

Amsterdam-based Change Group, an investment fintech company, announced on Tuesday that it is set to sell a majority stake to Swiss-based private equity firm Andromeda Capital Partners Suisse AG, founded by Ingmar Mattus. 

This strategic move sets the stage for Change Group’s mobile-first multi-asset brokerage platform spanning cryptocurrencies, stocks, derivatives, and yield-bearing assets to solidify its position as a dominant global player in the financial market.

What’s the deal?

According to the deal, Andromeda Capital Partners Suisse AG will increase its stake in Change Group from 10% to 51%. 

Mattus’ private equity fund will also acquire the shares held by Change founder Kristjan Kangro. 

Mattus is a seasoned investment professional with a proven track record of success. He is the co-founder and Director of Tickmill, a 300-employee investment platform in London with six licensed firms worldwide and 100,000 clients with nearly 10M trading transactions per month. 

“Change has great potential to expand and provide the best possible services while being profitable,” says Mattus.

To ensure Change is well-capitalised, Mattus will lead the new €1M investment round with Kangro, and board member and former DHL CEO Roger Alan Crook. 

The fundraising will enable the Dutch company to offer its clients even broader investment instruments. 

“As a result of the transaction and the fundraising, we will be able to offer our clients even more convenient ways to invest,” says Mattus.

The transaction is subject to approval by the Dutch regulator, which is expected to take place in October.

Change: Investment fintech platform

Kristjan Kangro founded Change in 2016 as a crypto-asset platform. 

However, after the crypto winter, the company pivoted to become a multi-asset platform that 

allows users to invest in a variety of asset classes, including cryptocurrencies, stocks, derivatives, and yielding assets. 

This strategic move seems to have paid off as the Dutch company has since grown rapidly to a user base of over 130,000 people in all 27 European Union countries.