UK app founded by Starling Bank co-founder to allow retail investors to buy cryptocurrencies acquires retail division of Gibraltar-based crypto payments company, expanding its footprint across Europe I plan to.
Jiggle, founded by former Starling Bank chief technology officer Mark Hipperson, will acquire Damex's retail division in an all-stock deal.
Specific financial details of the transaction were not disclosed.
The partnership means Ziglu, founded in 2019, will be able to expand its customer base for cryptocurrencies, investments and banking services.
The combined organization will have a customer base of around 200,000 people and is understood to be on track to offer UK and US stock trading to European customers in the coming months.
Ziglu is most famous for being nearly acquired by US trading app Robinhood in 2022 in a $170 million deal, but the deal was scrapped over disagreements over pricing.
Hip Person said:
“Ziglu and Damex both embody the common goal of democratizing finance for our customer base across the EU and reducing barriers to entry for a new generation of investors.
“We are excited to work with Damex to extend our capabilities to customers across the EU.”
Sam Buxton, co-founder and CEO of Damex, said:
“We are excited to partner with Ziglu, known for its strong regulatory structure and innovative product offerings, as Damex’s retail business partner.
“This partnership strengthens the range of financial services available to our customers. Additionally, it creates new listing opportunities for Damex tokens and allows Damex to focus on its core B2B services.”
