ETX Capital to merge its brand with Oval
Retail FX and CFDs broker ETX Capital has announced that it will be integrating its brand with the recently acquired Oval Money savings app. Oval and ETX Capital said that they plan to form a unique brand, focused on financial innovation and inclusion.
Effectively, we understand that the “ETX Capital” brand – one of the longest standing and known brands in the UK online trading scene – will be phased out in the coming months, and merged with Oval.
Following a recent transition period, Oval said that it continues on its mission to make finance more consumer-friendly, now with an expanded team and powerful new technologies.
Oval said that it is completing the integration with ETX Capital, and restated its ambitious plans for the future. The past few months have allowed the two companies to combine into one solid business ready to face future challenges, with a team of more than 180 people across three offices in Italy, the United Kingdom and Cyprus. This renewed financial stability and injection of diverse industry experience will allow the company to grow with confidence, while offering Oval users more ways to invest and trade on global market opportunities.
The brands will become one: Oval, uniting smart, intuitive and accessible finance with ETX Capital’s expertise and long legacy in the financial markets. With this combined industry knowledge, Oval will focus on technological innovation to further support its consumer-first approach.
Claudio Bedino, CMO of Oval (who has also taken over as CMO of ETX Capital following the recent departure of Nandik Barbhaiya) explained:
“New features will be announced over the next few months, but Oval’s vision and the values it has carried over the years will not change. The company’s business – the product – will always be aimed at helping you build good financial habits through savings and investments using modern technologies. All of this will be accompanied by a renewed trading offering that is consistent with the smart qualities associated with our brand.”
Oval added that it will benefit from ETX Capital’s extensive experience in financial markets and will offer new services that are increasingly effective and personalised to customers’ savings and investment needs.
The fintech company said it will soon implement new features for those who want to explore the world of investments. At the moment, Oval is strengthening its team to support growing ambitions, and is actively looking to recruit talented people keen to define the fintech revolution and help the brand shift from a start-up to a substantial industry presence.
ETX Capital operator Monecor (London) Limited was acquired by Swiss fintech investor Guru Capital SA in 2020.