By Aisling Finn on Monday 1 November 2021
Since its launch in 2015, Finimize has attracted more than a million subscribers, of which 40,000 are paying.
Asset management giant Abrdn has bought Finimize, the financial investment and publishing group, for an undisclosed sum in a surprise acquisition.
Abrdn says it will fund Finimize’s expansion, giving it access to Abrdn’s network of partners and infrastructure.
“In a world where technology has largely removed the friction from investing, information is king. There have been huge amounts of innovation in the brokerage space, but very little when it comes to information,” Rofagha said.
“Fintechs have reduced barriers to entry for retail investors, but there’s a huge demand for accessible high-quality investing information. We believe our platform needs to be bite-size, mobile and social to fit modern investors' busy lives.”
Finimize has amassed over a million subscribers and 40,000 members (paying £5/month) since it started its life back in 2015.
“The acquisition of Finimize by abrdn further supports our strategic ambition to deliver client-led growth through enabling our clients to be better investors. Finimize’s vision to empower smarter investors is a perfect fit for the group,” Stephen Bird, CEO of Abrdn, added.
“Its news service, active community and client insight will further assist the transformation of Abrdn into a truly client-led organisation and support a step-change in our capabilities.”