myinvestorthe investment expert neobank, has just announced the purchase of the Spanish roboadvisor Finanbest. Although the value of the operation has not been revealed, it has been announced that it will be definitively closed at the end of this year, after obtaining authorization from the CNMV and the AFA (Andorran Financial Authority).
With this move, Myinvestor will fully own the Spanish fintech, increasing the volume of its client portfolio, and will focus on continuing to grow and expand its product offering.
Myinvestor levels up and becomes a multi-brand roboadvisor
«Build the bank of the future«That is the purpose of Myinvestor, a neobank with partners and investors such as Andbank Spain, El Corte Inglés Seguros or AXA Spain. And, to further this purpose, it has acquired Finanbest, a Securities Agency authorized by the CNMV in July 2016, which performs automated discretionary management of investment fund portfolios for retail clients.
From both companies they have been very satisfied and excited about the future prospects and opportunities that this operation offers them. By combining Finanbest’s six risk level “profile” portfolios with its own, Myinvestor will become the first multi-brand robo-advisor in Spain. Likewise, this combination brings the neobank ever closer to its goal of transform your model into an investment marketplace.
For its part, Finanbest clients will be able to benefit from the products that Myinvestor offers and they will be able to keep their previous products without them being modified derived from the purchase. In addition, they will obtain a free paid online account, which will include cards and SEPA transfers at no additional cost.
Asier Uribeechebarria, CEO and founder of Finanbest (and who was a speaker at one of our NEXT events), has stated that this is a qualitative leap for your customerswho can now enjoy a better offer, and also for the Spanish financial industry.
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