Simply six months since Abrdn mentioned it will not purchase Exo Investing, and as a substitute make an funding into its mother or father firm Nucoro, the platform is ready to shut.
Picture supply: Pexels/Tim Mossholder
Exo Investing, an AI-powered digital wealth supervisor is to close down UK operations.
In a message to shoppers seen by AltFi, the platform is ready to shut absolutely by 4 March 2023.
“It’s with a heavy coronary heart that we announce that Exo Investing will probably be shutting down all UK operations. We’ve got had an unimaginable journey over the previous few years, and we’re extraordinarily grateful for the entire assist and belief that our customers have positioned in us,” the message mentioned.
Listed funding large Abrdn was to purchase the enterprise in 2021, however the deal was later halted with Abrdn as a substitute investing in it its mother or father firm Nucoro.
Exo Investing was based in 2017 by Lennart Asshoff and Nikolai Hack. It was spun out of Spanish wealth supervisor ETS the place the pair labored and provided publicity to mannequin portfolios primarily based on alternate traded funds (ETFs).
Buyers in its early included Benjamin and Ariane de Rothschild, the husband and spouse staff main the Swiss non-public financial institution Edmond de Rothschild, till the latter’s loss of life in 2021.
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