The UK-based digital wealth platform Nucoro has been acquired by engagement banking provider Backbase. The deal’s financial details weren’t made public.
Backbase claims that as a result of the agreement, it will be able to integrate Nucoro’s headless platform capabilities right into its platform, allowing users to start up digital end-to-end investment services like trading, robo-advisory, or hybrid advisory services.
Since Nucoro has spent the last three years as a part of the Backbase FinTech partner ecosystem, which has led to several collaborations, the two companies are well acquainted. Backbase, which was established in 2003 and has its headquarters in Amsterdam, finally received its first private equity investment last year at a $2.5 billion valuation.
Read More: Backbase buys digital wealth platform Nucoro