BUX Secures $80 Million, Appoints New CEO for European Expansion

​BUX​, an European neo-broker offering zero commission investing, announced that it has raised $80 million from a group of top-tier investors backing its mission to become the leading neo-broker in Europe. Yorick Naeff has been appointed as CEO to take BUX to the next level.

The funding round was led by Prosus Ventures and Tencent, with participation from additional new investors ABN Amro Ventures, Citius, Optiver, and Endeit Capital. Existing investors HV Capital and Velocity Capital Fintech Ventures also participated in the round, showing their commitment to accelerate BUX's strong, continued growth. 

Europe's fastest-growing neo-broker​​ BUX, which recently welcomed its 500,000th customer, will use this investment as additional impetus to expand its commission-free investment app BUX Zero. 

In parallel with the funding round, founder and CEO Nick Bortot will hand over the helm of the company to its current COO Yorick Naeff. Nick will remain involved with BUX as a member of the non-executive board.

"Younger generations in Europe now realise that investing is one of the few viable ways left to create a stable financial future. With this new funding round, BUX will continue to spearhead innovation by implementing advanced features to further shape the future of how Europeans invest. We are extremely grateful to have top tier investors like Prosus Ventures and Tencent onboard to support us in our mission," said Yorick Naeff, BUX's new CEO. 

Royal Park Partners acted as exclusive financial advisor to BUX and its shareholders throughout the transaction.

In the past three months alone, BUX Zero has more than doubled its assets under management. In addition, the number of active users grew six-fold throughout the year.

In the past year, the fast growing neo-broker, backed by its strategic partnership with Open banking-focused FinTech Yapily​, have successfully launched BUX Zero in Germany, France, Austria and Belgium.