Guru Capital Acquires Oval Money in FinTech Foray

Guru Capital Oval Money AcquisitionSwiss private equity firm Guru Capital recently announced its acquisition of FinTech company Oval Money Ltd. Oval Money, a retail savings and investment app based in the UK, will be integrated into Guru Capital’s portfolio company ETX Capital, an online CFD broker also based in the UK.

In addition to acquiring all Oval’s substantial assets, Guru is also pursuing the acquisition of 100% of the shares of Oval Marketplace A.V., S.L., the Spanish-regulated investment firm subsidiary of Oval Money, by an associated fund.

Since its inception in 2017, Oval Money has already garnered over 100,000 active users for its award-winning mobile app. Available on both the Apple Store and Google Play, Oval enables users to create and customize their savings goals using smart rules, and provides them with an array of financial products to invest in, starting from as little as €10. Users can diversify their investments by creating and managing their own portfolios in-app to diversify their investments. Oval users can also use the app as a payment platform to manage automatic and recurring payments, which they can use in conjunction with their Oval-issued debit card.

ETX Capital is a leading online CFD broker in the Forex industry. Founded in 1965, the company is widely acclaimed for its trustworthy reputation and trader-centric environment. Traders with ETX are given over 5,000 assets with which to trade, and are equipped with ETX’s proprietary, award-winning trading platform, TraderPro. The broker’s available trading instruments include stocks, indices, commodities, cryptocurrencies and Forex, and are marketed primarily to British and European traders. Regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), ETX Capital is particularly known for its cost-effective trading tools and education, which helps teach and guide traders through the labyrinth of Forex trading.

The acquisitions of these companies by Guru Capital are no doubt cause for some celebration among FinTech consumers, particularly given that the missions of both ETX and Oval include making their products and services more accessible and affordable. The two offerings will be combined into a single mobile app with which users can track their spending habits, set smart rules for investment goals, make payments and trade the financial markets.

To learn more about ETX Capital, please see our review here.

Gabriel Sherman
Gabriel joined the team at DailyForex in 2020. Gabriel had previously worked as the national sales manager for a payment processing company, where he edited the marketing materials. After obtaining a degree in Communications from the Interdisciplinary Center of Herzliya, Gabriel helped mortgage and insurance brokers and fintech companies become authorized by the Financial Conduct Authority, and edited the company website and documents.