FINVASIA Group, a multi-disciplinary organization that invests in technology-oriented businesses and products, announced yesterday that it has acquired ActTrader Technologies (formerly known as ActForex).
According to the press release, ActTrader will become a subsidiary under the FINVASIA Group with immediate effect. The Group added that Ilya Sorokin, CEO of ActTrader Technologies, will continue to serve as the Chief Executive Officer. ActTrader’s current management and associates will also remain in place.
Founded in 2000, ActTrader is one of the pioneers in the global financial technology (fintech) sector. The company acted as a core technology provider to some of the leading financial firms around the world. Also, ActTrader processed more than $400 trillion in transaction volume.
Commenting on the recent acquisition, Sarvjeet Singh, Managing Director of FINVASIA Group, said: “FINVASIA believes in the democratization of the financial system and believes that technology can lead this change. Uniting our companies will allow us to drive new innovations and create fintech solutions that not only address today's requirements but are also flexible enough to meet tomorrow’s technological advances.”
The latest announcement from FINVASIA Group came nearly one month after the Group acquired a 100% stake in a Cyprus-based financial services provider, Fxview for an undisclosed amount.
Acquisition
FINVASIA Group owns different brands in fintech, Blockchain , financial services and the technology sector. Through the latest acquisition of ActTrader, the Group is planning to expand its presence in the financial technology sector. "This acquisition broadens our footprint and strengthens our ability to serve new clients well and long into the future. As we continue to grow and expand, the ability to provide our clients with innovative next-gen financial technology products is a significant step in our journey," Founder and CEO of ActTrader Technologies, Ilya Sorokin, commented.
FINVASIA, along with its subsidiaries and sister concerns, is registered with a broad range of regulatory bodies around the world including FCA, CySEC , BaFin and CONSOB. In India, FINVASIA is registered with the Reserve Bank of India as an NBFC.
