Huddlestock Fintech

Regulatory Filings • Aug 6, 2024

Huddlestock expands IaaS-offering to existing Norwegian customer

Huddlestock, a leading investment technology and services provider, has signed an agreement to provide a new Investment-as-a-service (IaaS) offering to its existing wealth management customer Kraft Finans AS. The new offering provides a shareholder registry within a nominee structure for private equity investments and is based on existing software and services on Huddlestock's IaaS-platform. The agreement will come into effect once market approval has been obtained for Kraft Finans' first private equity fund.

"We take pride in our ability to enable any company to launch new investment services, and to support them on the forefront of capital markets innovation through our IaaS-platform." says Leif Arnold Thomas, CEO of Huddlestock. "The expansion of our offering to existing customers is proof of the effectiveness of our business model and technology and our ability to meet new market needs."

Huddlestock operates in a self-reinforcing growth market characterized by an increasing number of investment platforms, more investors, and evolving investor preferences. By using the Huddlestock IaaS-platform, customers can access investment tools and expertise without the need for extensive infrastructure or in-house resources and 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 a large untapped potential for its services. The company pursues this both by upselling to existing customers and through forging new customer relationships. Upselling activities is 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.

For more information, please contact:

CEO Leif Arnold Thomas +47 982 15 520 leif.thomas@huddlestock.com

About Huddlestock

Huddlestock is an innovative technology software provider through its Investment-as-a-service offering, with full operational service support and a leading financial Consultancy services business. We deliver innovative and sustainable technology and operational solutions to companies offering financial products and services.

www.huddlestock.com