Huddlestock Fintech AS (OSE: HUDL) are pleased to report that the first German end-clients are now onboard on the Bedrock trading platform.
Huddlestock Fintech announced on the 23rd of May 2022 that it had signed a full white-label contract with Solaris AG, the leading European Banking-as-a-Service platform with headquarters in Berlin, Germany. The comprehensive agreement ensures that many of the B2B clients of Solaris can go live with Huddlestock’s technology when offering low-cost trading opportunities for their customers.
The first German end clients are now onboard and live on the Bedrock trading platform, and the first trades have been executed and successfully settled.
- Technical testing has been successful, and the solution is validated and being commercialized.
- Solaris has now been onboarded together with their first partner bank. The first end-clients are now onboard, and live trades have commenced this week. Trades have been executed in the market and settled successfully. We estimate that initially the first 100.000 end customers will be taking the service in use in the months to come.
- The second client is to be onboarded and go live during 4th quarter 2022. With these customers, Huddlestock will expand and be a large infrastructure provider for low-cost trading in Europe.
This investment solution will further be offered to Solaris’ more than 60 B2B clients and open the world of high growth retail brokerage market to millions of end customers by offering trading in equities, ETFs, CFD´s, futures, and mutual funds, through individual trading accounts and/or savings plans. The infrastructure behind Solaris’ innovative investment solution will be powered by Huddlestock and offered through its core API.
“Our solution opens up markets for more investors and provides a trading-in-a-box solution to clients like Solaris. Our pipeline of clients is growing every day, and with our recent acquisitions we can offer a more versatile B2B offering than any other provider in Europe. We are now set to grow, with a strong team and a unique technology,” says John E. Skajem, Group CEO, Huddlestock Fintech.
About Solaris: Solaris is Europe's leading Banking-as-a-Service platform. They enable other businesses to offer their own financial services both rapidly and compliantly in the EU/EEA and the UK. Via APIs, their partners can integrate modular financial services directly into their own product offering. Solaris services cover fiat and crypto assets, lending as well as payments, card issuing and processing. In 2021, Solaris opened branches in France, Italy, and Spain to offer local IBANs, providing access to local financial eco-systems in Europe’s largest markets. Headquartered in Berlin, the group now boasts over 700 employees at eight locations in Europe and in India. Combined net revenues in 2021 amounted to around EUR 100 million, representing over 90 percent year-on-year growth.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
- Cecilia Luras, Chief of Strategy & Communications, +47 951 45 382, col@huddlestock.com
- John E. Skajem, CEO, +47 418 87 412, jes@huddlestock.com
About Huddlestock Fintech AS
Huddlestock Fintech is an innovative technology software provider with a leading expert professional services business. We deliver innovative and sustainable technology solutions to the capital markets, treasury and wealth management industries.
Through its technology offering, Huddlestock offers an innovative, compliant, and data-centric WealthTech SaaS, accelerating the digital transformation, and trends of hyper-personalization and on-demand banking within the wealth management industry. Huddlestock’s SaaS empowers the embedding of low-cost, efficient white-label trading and investment services, underpinning Huddlestock’s mission of delivering financial inclusion by democratizing access to capital markets.
Through its world-class expert professional services business, Huddlestock delivers strategic technology solutions and process automation for the financial services industry. This range of services has propelled Huddlestock into becoming the preferred supplier of financial consultancy services and technology solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext Growth Market 26th November 2020, as Norway’s first fintech company to be publicly traded.
For more information, please visit www.huddlestock.com