Investoo says the deal, for an undisclosed sum, marks the company’s expansion into the portfolio management sector where it plans further expansion, particularly in the robo-adviser sector.
RoboAdvisors.com says it aims to make portfolio management “affordable and accessible” and is striving to become the leading robo-adviser comparison site.
Investoo Group is a financial venture that claims to have become one of the biggest lead generation companies in the Forex and retail investment industries.
It is based in London and has grown from 1 to 50 employees in its first year. The group is backed by online technologies leaders Kinetic Investments and Optimizer Invest.
Investoo Group chief executive Adam Grunwerg said: “Our acquisition of this dynamic robo-advisor comparison site represents a major turning point in our company as we expand into the retail investments industry. Robo-advisors is a rapidly growing market that we feel will revolutionise the personal investments industry.
“This acquisition fits nicely into our group of brands, alongside our investment and news portal Invezz.com.”
RoboAdvisors.com enables visitors to choose the best robo-adviser service depending on their requirements.
Investoo Group chairman David Merry said: “This exciting development is part of our commitment to revolutionizing personal finance and investment. We are always looking for growth opportunities to expand our reach into investment niches.”
Investoo has established partnerships with a number of the world’s leading robo-adviser firms and is aiming to build a portfolio of innovative online brands. It has acquired four brands since December 2016.