Global investment company abrdn has acquired the business with a view to enabling Finimize to become the #1 information platform for modern investors.
Finimize empowers retail investors by equipping them with information to make their own informed investment decisions, without any jargon, in less than 15 minutes a day. Finimize has over 1 million subscribers to its daily newsletter and around 40,000 premium subscribers. They’ve built a passionate global community around making investing accessible and digestible to clients.
Benefits from the abrdn group – such as access to its global network of partners, its established research team and its operational infrastructure – will enable Finimize to scale even more rapidly. abrdn will be able to utilise Finimize’s unique content delivery technology, editorial and content skills – as well as insights into its highly engaged investor community.
Finimize will continue to operate as an independent brand and insights platform. Finimize CEO Max Rofagha will join abrdn’s leadership team. Finimize is Max’s second successful start-up venture and he will use his entrepreneurial acumen to help accelerate a culture of innovation within the company.
“The acquisition of Finimize by abrdn further supports our strategic ambition to deliver client-led growth through enabling our clients to be better investors. Finimize’s vision to empower smarter investors is a perfect fit for the group” said Stephen Bird, CEO of abrdn (pictured).
In a world where technology has largely removed the friction from investing, information is king. There’s been huge amounts of innovation in the brokerage space, but very little when it comes to information. We’re excited to be at the forefront of changing this with the backing of a major financial institution that shares our vision” said Max Rofagha, CEO of Finimize.
Finimize started as a newsletter and has now amassed over 1 million subscribers with around 40,000 subscribers to the Finimize Premium service.
Finimize’s virtual meet-ups have attracted more than 50,000 people in the last 12 months, the majority being organised voluntarily by its own members. Premium members get access to exclusive content, live expert events and member-only group chats, where they can learn from each other and discuss the latest trends.
Finimize runs a successful advertising business around its financially savvy, global, mass affluent audience and also monetises its expertise by providing content and licensing solutions to 3rd parties.
Finimize plans to develop its product into a holistic information layer that sits above brokerage apps. A key part of the roadmap is to consolidate the experience of discovering, analysing and discussing stocks into its award-winning mobile app. Finimize will leverage abrdn’s scale and network to not only grow its D2C but also its B2B client base.
“Fintechs have reduced barriers to entry for retail investors, but there’s a huge demand for accessible high-quality investing information. We believe our platform needs to be bite-size, mobile and social to fit modern investors’ busy lives. We envisage Finimize will become the most convenient way for people to learn, research and discuss investing” said Max Rofagha.
“Finimize will maintain its operational independence and Max will join my leadership team to further drive content and customer-driven technology capabilities across abrdn. Its news service, active community and client insight will further assist the transformation of abrdn into a truly client-led organisation and support a step change in our capabilities” said Stephen Bird.