EN
UKRAINE – STARTUP AND
TECHNOLOGY NEWS

TA Ventures and ICLUB exited British startup Finimize – a finance media product with a focus on the investment community

Ukrainian venture fund TA Ventures and private investors’ club ICLUB exited from the British FinTech startup Finimize. As told to AIN.UA by TA Ventures representatives, the deal comes as a result of the Finimize acquisition by the British investment company Abrdn.

About Finimize

FinTech startup Finimize is a finance media product with a focus on the investment community. Using the Finimize app and RSS feed, their clients follow investment trends, receive information on financial and investment topics, and communicate with each other. The main feature of the project is a strong community of experts. Finimize helps you to make informed investment decisions.

The startup was founded in 2016 by Max Rofaga.

Picture credit: TA Ventures

Finimize has already had over a million users at the time of purchase. About 1 million of them use the free version of the application. The company makes money from premium users who get access to more detailed analytics and investment advice for a subscription of $82/year. Nowadays, the company has 40,000 such clients.

Acquisition details

The British investment company Abrdn acquired Finimize in October 2021. The deal will allow the startup to take advantage of the company’s global partner network and operating infrastructure.

Abrdn will receive unique newsletter technology, as well as be able to take advantage of the editorial skills of the Finimize team. Also, the company will gain a deeper understanding of the investor community.

Abrdn CEO Stephen Bird comments on the deal, “The acquisition 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.”

TA Ventures and ICLUB exit details

TA Ventures and ICLUB invested in Finimize in July 2020 and exited 15 months later. ICLUB Regional Director Igor Pertsiya says that Finimize is one of the examples of successful businesses that came into being «in the right place and at the right time»:

“Platforms with a community at the center of their business model are interesting because they are growing rapidly due to organic traffic and content reposts between users. Finimize is an example of a successful business that came into being in the right place at the right time. The startup was launched at the beginning of the growth of free capital for individuals — in 2016. That is why they were able to help a huge number of users to understand the world of investments in more detail and faster. It attracted the large companies’ attention. As a result, they were bought for their competence in the topic and the base of relevant customers.”

Search