Oval to Complete Integration with ETX Capital

The United Kingdom-based fintech Oval announced that it will complete the integration with ETX Capital, a UK-based forex and CFDs broker which Guru Capital bought last year.

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The announcement comes months after the two companies reached the acquisition agreement​ earlier this year, which allows the companies to combine into one solid business ready to face future challenges, with a team of more than 180 people across three offices in Italy, the United Kingdom and Cyprus.

The integrated brand will combine Oval's accessible finance with ETX's expertise and heritage in the financial markets. With this combined industry knowledge, Oval will focus on technological innovation to further support its consumer-first approach.

"New features will be announced over the next few months, but Oval's vision and the values it has carried over the years will not change. The company's business, the product, will always be aimed at helping you build good financial habits through savings and investments using modern technologies. All of this will be accompanied by a renewed trading offering that is consistent with the smart qualities associated with our brand,"Claudio Bedino, CMO of Oval said.

As Fazzaco reported earlier, ETX Capital has posted its financial results for 2020, showing a solid performance in revenue. The total revenue of ETX Capital came in at £31.8 million in 2020, which was up 48 percent when compared with the previous year of £21.4 million.