ABN Amro complete purchase of investment app BUX
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Loading... - Dennis Jamieson
- 05 Jul 2024
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ABN Amro has finalized its acquisition of the investment app BUX. The acquisition, which was initially announced in December last year, has received regulatory approval, officially making BUX a subsidiary of the bank. The financial terms of the deal have not been disclosed.
Despite the acquisition, BUX will continue to operate independently under its existing brand name within ABN Amro's framework. Founded in 2013, BUX currently serves 500,000 clients across eight countries, focusing on making investing more accessible and affordable.
ABN Amro has been involved with BUX since 2019 and was one of its initial investors. The integration of ABN Amro's systems with the BUX app has been ongoing, although this acquisition excludes BUX's crypto-related activities.
BUX CEO York Naeff expressed pride in completing the acquisition, emphasizing the shared goal of empowering individuals to manage their financial futures from an early stage. ABN Amro views this acquisition as aligned with its growth strategy, aiming to enhance client accessibility and financial empowerment through technology.
