BME acquires 10% of Finect

BME has acquired 9.7% of Spanish smart data financial firm Finect, which offers investors a specialised social media community, interactive tools to improve decision-making and financial information based on smart data technology, among other services.

The transaction, worth lower than 1 million euros, will add diversification to BME and strengthen the company’s commitment to a booming and future-oriented sector, the digital financial services, broadly known as fintech.

BME has undertaken a process of digitalisation and technological diversification, which last year led it to integrate all its IT, consulting, regulation and innovation added-value services into BME Inntech. BME also manages fintech services and projects through its Valencia-based Openfinance subsidiary.

For Javier Hernani, CEO of BME, "this investment and the alliance with Finect is another step forward in the company's diversification policy and growth of the business’ technological area. The objective of BME is to offer its clients and investors a wide range of services and products so that they can compete in the complex financial and digital environment in which they operate".

For Antonio Botas, CEO of Finect, "the transaction is a milestone in our mission to assist investors in their financial decisions. BME will bring us experience and leadership, both financial and technological, which are of great help towards our goal of improving the finances of investors, "he said.

Finect has close to 2 million users who have used its different services, among them a financial aggregator for complete portfolio tracking, interactive pills that address specific questions from users and a community of private and professional investors. In addition, nearly 50 investment firms, national and international, already use Finect to interact with their customers.