Amsterdam based neobroker BUX has announced the acquisition of the retail brokerage arm of Spanish neobroker Ninety Nine. The transaction gives BUX a stronger presence in the Spanish retail brokerage category.

No financial terms of the transaction were released. However FNG has learned that as part of the deal Ninety Nine has agreed to no longer provide retail services in Spain, and will instead focus on its B2B business with brokerages and banks.

Yorick Naeff, CEO at BUX said:

“We are proud and delighted to help a new group of Spanish clients create a stable investment base and build a better financial future. Thanks to this acquisition, Ninety Nine users will have access to a wide range of services provided by BUX, such as investing in Spanish, European and US stocks, ETFs, cryptocurrencies, fractional investing and the BUX Savings Plan. I warmly welcome Ninety Nine’s former clients and look forward to developing additional products to suit our Spanish clients.”

Javier Sanz Álvarez, CEO and founder of Ninety Nine added:

“I am happy that in BUX we have found a partner to whom we can entrust our retail customers with peace of mind. We have been working for over a year and a half on our B2B strategy, and while it was a difficult decision, we have decided to focus all our efforts on it. However, our clients are still very important to us so we have been working with BUX to provide them with a great alternative to continue investing, including two free shares as a welcome gift, free migration to the BUX platform, and fees almost 50% lower than current ones. I believe our retail clients will be satisfied with this solution.”

About BUX

With more than 700,000 clients, BUX is one of Europe’s leading neobrokers and has been making it easy and affordable for investors to do more with their money since 2014. BUX Zero is headquartered in Amsterdam and is currently available in the Netherlands, Germany, Austria, France, Belgium, Ireland, Spain, and Italy. The company also recently rebranded its CFDs trading app to Stryk.

About Ninety Nine

Ninety Nine is a B2B embedded finance platform providing personalized, end-to-end investing solutions to its partners. Thanks to its unique groundbreaking technology, Ninety Nine enables its partners to launch retail investing services quickly and efficiently offer US and European equities, ETF and Cryptos.