Hong Kong digital wealth firm Quantifeed plans to widen its global footprints with the acquisition of a UK fintech firm.
Quantifeed has acquired Alpima, a UK-based portfolio construction fintech company, according to a statement, which will create a platform with $20 billion in assets under management.
The acquisition will help Quantifeed expand into international markets across Europe, Middle East and the Americas.
«This transaction accelerates our mission to increase the productivity of investment professionals and to create better investment outcomes for their clients,» said Quantifeed co-founder Alex Ypsilanti, who was also a former managing director at Morgan Stanley and Bank of America Merrill Lynch.
Startup Backers
Quantifeed is a Hong Kong-based wealth management startup backed by investors including HSBC and Franklin Templeton. As part of the latest transaction, Fidelity International Strategic Ventures will join as a new shareholder.
Quantifeed secured series C funding in May, led by HSBC Asset Management’s alternative investments arm.
