Huddlestock Fintech

Regulatory Filings • Sep 18, 2024

18.09.24 Huddlestock expands IaaS offering to existing Swedish customer

Huddlestock Fintech AS ("Huddlestock"), a leading investment technology and services provider, has extended and expanded its existing Investment-as-a-Service ("IaaS") agreement with a Swedish-based global asset manager. The agreement includes the delivery of software, back-office operations and endcustomer solutions.

"This once again highlights our ability to drive growth through existing clients," says Leif Arnold Thomas, CEO of Huddlestock. "The agreement will elevate the quality of services provided and enable us to deliver new, innovative solutions, such as enhanced end-customer offerings."

The customer, a global asset manager based in Sweden, provides investment solutions to leading institutions, companies and private individuals.

Huddlestock operates in a self-reinforcing growth market characterized by an increasing number of investment platforms, more investors, and evolving investor preferences. By using Huddlestock's IaaS platform, businesses can access investment tools and expertise without the need for extensive infrastructure or in-house resources, allowing them to quickly deploy modern and cost-effective financial services solutions. Huddlestock's IaaS revenue is driven by recurring license fees, assets under administration and transaction fees.

Within its existing geographical markets, Huddlestock sees significant untapped potential for its services. The company is pursuing this by upselling to existing customers and forging new customer relationships. Upselling activities are an effective way to drive growth without high acquisition costs. Upselling adds value to existing customers and provides Huddlestock with valuable insights into evolving customer needs, strengthening Huddlestock's ability to capitalize on emerging opportunities.