
Luminor Capital invests SGD 5m in ayondo
Singapore-based Luminor Capital has injected an additional SGD 5m (approximately €3m) into Frankfurt-based ayondo group, a social trading platform.
With the fresh capital, the group aims to implement its global B2B strategy and expand internationally, particularly in Asia. It opened a Singapore office in July.
Luminor stated it had invested because of ayondo's management team and because it sees social trading as "one of the key online financial service platforms of the future".
Headquarted in Singapore, Luminor has raised two funds, both of which focus on the Asia-Pacific region: Luminor Pacific Fund 1 and 2.
Previous funding
In January 2014, Luminor injected CHF 5.5m into the company, formerly known as Next Generation Finance Invest (NGFI) and listed on the Berne stock exchange. It transformed NGFI from an investment company into an operational holding company.
Company
The ayondo group is a holding company for social trading provider ayondo and the broker ayondo markets, formerly Gekko Global Markets, founded in 2008 and based in London. Previously known as NGFI, ayondo changed its name in April 2014 and moved from Zug to Frankfurt.
The company invests in new technologies and high-growth business models that can achieve increased efficiency in the banking sector.
People
Robert Lempka is CEO of ayondo. Foo Fatt Kah is managing director of Luminor.
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