ayondo teams up with Chinese social investing firm iMaibo


ayondo teams up with Chinese social investing firm iMaibo

SGX-listed global financial technology group, ayondo, announced that it has entered into a non-binding strategic alliance terms with social investing company iMaibo.

iMaibo is a Chinese company, offering a cost-efficient social investing platform for Asian, European and other global CFDs to facilitate investment-related business, via its network of social media influencers and key opinion leaders (KOLs), followers of such KOLs, and third party service and product providers. The company provides free content to its users via its platform.

ayondo and iMaibo will co-operate with each other on growing a Social Trading business in China by leveraging on iMaibo’s client base and KOLs and ayondo’s product suite and execution infrastructure, as well as its Top Trader community on its Social Trading platform “WeTrade”.

The companies intend to expand into adjacent business areas to secure new clients and additional revenue streams from synergies with brokerages, asset management companies, corporate Top Traders and other internet platforms.

iMaibo will procure a third party to provide a loan of US$1 million to ayondo.

Mark Street, Interim-CEO of ayondo, commented on the news:

Going forward, ayondo will primarily focus on its core Social Trading business, while continuing to develop B2B business with existing and new Asia based partners.

While strengthening the financial base and the current European B2C-Social Trading-business with fresh funding from iMaibo, the strategic partnership with the community-based financial platform will support further expansion into Asia – particularly China. We are certain that the new strategy will provide an excellent foundation for ayondo’s future development, and increase its agility as a technology focused FinTech company.

iMaibo Founder, Water Cheung said:

This is a great strategic opportunity for both parties to grow an even stronger and robust Social Trading business in China for domestic and international clients as well as the rest of Asia. We believe that both iMaibo and ayondo have strong synergies to build a very successful joint business.

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ayondo teams up with Chinese social investing firm iMaibo

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