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Dutch neo-broker BUX raises $80 million

Dutch neo-broker BUX raises $80 million

European neo-broker BUX has raised $80 million in a funding round led led by Prosus Ventures and Tencent, with participation from additional new investors ABN Amro Ventures, Citius, Optiver, and Endeit Capital.

After an inituial roll out in the Netherlands, the Dutch firm launched its flagship commission-free trading app BUX Zero in Germany, France, Austria and Belgium in the past year.

The full range of BUX products, including BUX Crypto which allows users to invest in cryptocurrencies, and BUX X, where users can trade in contracts for difference (CFDs), are available across Europe.

The business, which targets a new generation of novice investors, currently claims 500,000 customers, reporting six-fold growth throughout the past year as users search out better returns on their capital in a low-interest rate environment.

As the company prepares for an expansive drive into new European markets, CEO and founder Nick Bortot is stepping aside to hand over the reins to former ING man and COO Yorick Naeff.

“Younger generations in Europe now realise that investing is one of the few viable ways left to create a stable financial future," says Naeff. "With this new funding round, BUX will continue to spearhead innovation by implementing advanced features to further shape the future of how Europeans invest."

Comments: (1)

A Finextra member
A Finextra member 23 April, 2021, 09:52Be the first to give this comment the thumbs up 0 likes I suppose the other “viable ways left to create a stable financial future” is working hard instead of gambling your savings on their mobile app?