Ayondo Partners with iMaibo to Expand Social Trading in China

Singapore-listed ayondo Ltd, a leading UK FCA and German BaFin-regulated social trading platform has entered into a non-binding strategic alliance terms with Chinese Social Investing company iMaibo in order to co-operate with each other on growing a Social Trading business in China by leveraging on iMaibo’s client base and key opinion leaders, and ayondo’s execution infrastructure, product suite, as well as its Top Trader community on its Social Trading platform “WeTrade”.

iMaibo
iMaibo

iMaibo, which offers a cost-efficient social investing platform for Asian, European and other global CFDs to facilitate investment-related business, will provide or procure a third party to provide a loan of US$1 million to ayondo in order to facilitate this collaboration. The Chinese firm will support a longer term fund raising exercise supported which proceeds may be used for restructuring and streamlining the Group’s business, acquiring an equity stake in iMaibo and/or expanding into adjacent business areas.

The deal also includes an expansion into adjacent business areas to secure new clients and additional revenue streams from synergies with brokerages, asset management companies, corporate Top Traders and other internet platforms.

Mark Street, Interim-CEO of ayondo, commented: “Going forward, ayondo will primarily focus on its core Social Trading business, while continuing to develop B2B business with existing and new Asia based partners. While strengthening the financial base and the current European B2C-Social Trading-business with fresh funding from iMaibo, the strategic partnership with the community-based financial platform will support further expansion into Asia – particularly China. We are certain that the new strategy will provide an excellent foundation for ayondo’s future development, and increase its agility as a technology focused FinTech company.”

Water Cheung
Water Cheung

Water Cheung, founder of iMaibo, said: “This is a great strategic opportunity for both parties to grow an even stronger and robust Social Trading business in China for domestic and international clients as well as the rest of Asia. We believe that both iMaibo and ayondo have strong synergies to build a very successful joint business.”

iMaibo provides free and premium content to its users via a network of “bloggers” since its inception in 2013, having grown to a user base with over 3,500,000 registered users. In 2016, the firm launched a new initiative to repackage offshore investment products in small denomination for domestic investors.

ayondo interim-CEO Mark Street rose to the role after the resignation of Robert Paul Lempka in January 2019. Street has been an advisor to ayondo since 2013, with a focus in capital raising and business development in Asia. His more than thirty years experience in financial markets in Europe, Asia and the Middle East, include senior managerial positions at UBS and Societe Generale.