Simply Wall St acquires US fintech start-up

Australian retail investment platform Simply Wall St has acquired US-based fintech start-up Capp.io.

Simply Wall St acquires US fintech start-up

tlewis

Last Updated: 11 April 2016 Published: 11 April 2016

Simply Wall St today announced its acquisition of Capp.io, a start-up that provides analysis data on US stocks.

Simply Wall St chief executive and founder Al Bentley said: "The Capp.io team shares our mission and values to make investing simple for the self-directed retail investor."

He added: "The acquisition allows us to strengthen our presence on the US market."

The Australian stock investment platform converts financial data into infographics and currently has 30,000 users. Under the agreement, Capp.io will transfer assets such as its user base and intellectual property to Simply Wall St. New users will be directed to Simply Wall St's website.

Capp.io chief executive Jay Deuskar said: "I think Simply Wall St has a very similar vision to Capp.io and is doing a great job at simplifying long-term investing."

Mr Deuskar said the start-up will now focus on opportunities within a "different space".