The Swiss-based
private equity firm, Andromeda Capital Partners, owned by popular retail trading brand Tickmill, is acquiring a majority stake in Change, an Amsterdam-based fintech
company. According to Ingmar Mattus, the Co-Founder of both entities, the deal
will elevate Change, known for its mobile-first multi-asset brokerage platform,
to a global contender in the investment world. The transaction is expected to
close in October, pending approval from Dutch regulators.
Andromeda
Capital Partners will increase its ownership in Change from 10% to 51%. The
shares will be acquired from Change’s Founder, Kristjan Kangro. This move is
part of a broader strategy to expand Change’s reach and offerings, including
cryptocurrencies , stocks, derivatives, and yielding assets.
Although the information first appeared in the media in August, it has now been officially announced to a wider audience by Mattus, who launched Andromeda eight months ago. In his social media posts, Mattus stated that several factors drove the decision to acquire a majority stake.
“First
and foremost, we were greatly impressed by the exceptional talent and
efficiency of their team,” Mattus commented in a LinkedIn post. “They
excel in product development and engineering, aligning perfectly with our
strategic vision of achieving substantial growth and establishing a truly
global multi-asset trading platform .”
Kristjan Kangro, who began developing Change at 24, will remain as the President of the fintech company. Kangro expressed his confidence in Mattus as the right majority shareholder.
“He
has the experience and ambition to take Change to the next level,” Kangro
commented. “We started operating in 2016, focusing only on cryptocurrency.
Since then, Change has raised over €22 million in funding from investors and
today we offer almost all possible asset classes on our platform.”
Since its
launch, Change has expanded its customer base to 130,000 users across all 27
European Union countries.
To ensure
Change’s growth, a new €1 million investment round will be led by Mattus, along
with Kangro and the Board Member, Roger Alan Crook, the former CEO of DHL. This funding will enable Change to diversify its investment instruments,
providing clients with more convenient investment options.
Andromeda’s New Investment
and Tickmill’s Expansion
Andromeda
has recently added another feather to its cap by securing an investment. In
July, Galaxy Ventures GmbH, the parent company of AgenaTrader and TradersYard,
received an investment of €3.5 million from Tickmill’s private equity arm. This
financial infusion marked a pivotal moment for AgenaTrader and TradersYard,
setting them on a path to revolutionize the trading industry with cutting-edge
platforms and a collaborative social trading network.
As for
Tickmill, the company has been making strategic moves to expand its global
presence. In May, it announced the opening of a new office in Dubai, located in the
Emirates Financial Towers. This new location operates under DFSA regulation and
aims to fuel the broker’s expansion in the MENA region. Joseph Dahrieh, who has
been with Tickmill for five years and has experience with other regional
brokers, leads the Dubai office as the Managing Principal.
In addition,
Tickmill has launched a new IB Contest, which commenced on 1 June 2023 and will
continue until 1 February 2024. The contest is open to clients of Tickmill Ltd.
(Seychelles) and Tickmill Asia.
The Swiss-based
private equity firm, Andromeda Capital Partners, owned by popular retail trading brand Tickmill, is acquiring a majority stake in Change, an Amsterdam-based fintech
company. According to Ingmar Mattus, the Co-Founder of both entities, the deal
will elevate Change, known for its mobile-first multi-asset brokerage platform,
to a global contender in the investment world. The transaction is expected to
close in October, pending approval from Dutch regulators.
Andromeda
Capital Partners will increase its ownership in Change from 10% to 51%. The
shares will be acquired from Change’s Founder, Kristjan Kangro. This move is
part of a broader strategy to expand Change’s reach and offerings, including
cryptocurrencies , stocks, derivatives, and yielding assets.
Although the information first appeared in the media in August, it has now been officially announced to a wider audience by Mattus, who launched Andromeda eight months ago. In his social media posts, Mattus stated that several factors drove the decision to acquire a majority stake.
“First
and foremost, we were greatly impressed by the exceptional talent and
efficiency of their team,” Mattus commented in a LinkedIn post. “They
excel in product development and engineering, aligning perfectly with our
strategic vision of achieving substantial growth and establishing a truly
global multi-asset trading platform .”
Kristjan Kangro, who began developing Change at 24, will remain as the President of the fintech company. Kangro expressed his confidence in Mattus as the right majority shareholder.
“He
has the experience and ambition to take Change to the next level,” Kangro
commented. “We started operating in 2016, focusing only on cryptocurrency.
Since then, Change has raised over €22 million in funding from investors and
today we offer almost all possible asset classes on our platform.”
Since its
launch, Change has expanded its customer base to 130,000 users across all 27
European Union countries.
To ensure
Change’s growth, a new €1 million investment round will be led by Mattus, along
with Kangro and the Board Member, Roger Alan Crook, the former CEO of DHL. This funding will enable Change to diversify its investment instruments,
providing clients with more convenient investment options.
Andromeda’s New Investment
and Tickmill’s Expansion
Andromeda
has recently added another feather to its cap by securing an investment. In
July, Galaxy Ventures GmbH, the parent company of AgenaTrader and TradersYard,
received an investment of €3.5 million from Tickmill’s private equity arm. This
financial infusion marked a pivotal moment for AgenaTrader and TradersYard,
setting them on a path to revolutionize the trading industry with cutting-edge
platforms and a collaborative social trading network.
As for
Tickmill, the company has been making strategic moves to expand its global
presence. In May, it announced the opening of a new office in Dubai, located in the
Emirates Financial Towers. This new location operates under DFSA regulation and
aims to fuel the broker’s expansion in the MENA region. Joseph Dahrieh, who has
been with Tickmill for five years and has experience with other regional
brokers, leads the Dubai office as the Managing Principal.
In addition,
Tickmill has launched a new IB Contest, which commenced on 1 June 2023 and will
continue until 1 February 2024. The contest is open to clients of Tickmill Ltd.
(Seychelles) and Tickmill Asia.
