Honye taps Exante’s white label platform to launch investing app Zoyo
Honye Financial Services Ltd, is a special purpose acquisition company formed to undertake one or more acquisitions of businesses in the financial services and financial technology sector.
Honye Financial Services Ltd has announced it will launch a Zoyo-branded trading and investment app as soon as the reverse takeover of Zoyo Capital, which is reportedly in its final stage, is completed.
The London-listed company’s trading arm has tapped XNT Ltd, also known as Exante, to access its white-label brokerage services and investment platform. The license agreement between the firms has already been signed.
The EXANTE trading platform offers users access to buy and sell over 400,000 stocks, ETFs, bonds, options, futures, metals and currencies.
Honye said it expects the investing app will generate revenue shortly after the launch. Zoyo and Honye Trading will, however, continue R&D efforts in order to develop a proprietary trading platform, which is planned to replace Exante’s white-labeled platform.
Shaun Wootton, Chairman of Honye, commented: “We are pleased to announce the next step on the path towards setting up and running an equity trading mobile application. This approach will enable us to provide a trading solution to our clients within a matter of weeks of the RTO, generating revenue and raising brand awareness of the Zoyo name many months earlier than would otherwise be the case.”
CEO of EXANTE, Alexey Kirienko said: “We’re delighted to be partnering with Honye Financial Services to offer our award-winning brokerage services. We look forward to working with Honye going forward.”
Honye is a fintech-focused SPAC
Honye Financial Services Ltd, is a special purpose acquisition company formed to undertake one or more acquisitions of businesses in the financial services and financial technology sector.
The firm has recently appointed John Treacy as a Non-executive Director. John Treacy is an experienced financier who specialises in working with growing companies. He qualified as a solicitor in the London office of a major international law firm where he specialised in Capital Markets and Mergers & Acquisitions.
From there he moved to practice corporate finance in the advisory teams of several prominent UK brokerages where he acted as an adviser to a number of AIM companies and advised on numerous IPOs, acquisitions, debt restructurings and placings.
Shaun Carew-Wootton has assumed the role of Non-executive Chairman of Honye.
Honye also announced that, following extremely positive initial feedback from a number of potential cornerstone investors over recent weeks, the company is aiming to conclude the required fundraise in the near future.
