Huddlestock Fintech

Regulatory Filings • Jan 9, 2024

Huddlestock signs with AVL Finanzvermittlung Beteiligungen in Germany

Huddlestock signs with AVL Finanzvermittlung Beteiligungen in Germany

9.1.2024 12:41:10 CET | Huddlestock Fintech AS | Non-regulatory press releases

Huddlestock, a leading Investment-as-a-Service provider, today announced that it

has signed a Letter of Intent (LOI) with Weinstadt, Germany-based AVL

Finanzvermittlung Beteiligungen GmbH

Huddlestock Fintech AS (OSE: HUDL) announced today that the German Huddlestock

GmbH has signed a Letter of Intent (LOI) with AVL Finanzvermittlung

Beteiligungen GmbH (AVL) to establish a cooperation between the parties to offer

trading and investing in all types of financial instruments to German clients.

The aim of the agreement is to establish a cooperation between the parties for

offering trading in all types of financial instruments, initially to the German

market. Through this collaboration, the parties intend to utilize their

respective resources, expertise and networks to create a platform for investing

in financial products such as equities, investment funds, ETFs, futures and

fixed income products. AVL will interface and be responsible for the client

relations with the end client, while Huddlestock will provide the technological,

regulatory and procedural infrastructure and services related to trading and

investing. This letter of intent is expected to lead to a contractual

cooperation agreement between the parties within a short period of time.

The expected final agreement is a cooperation agreement between the parties

involving the purchase and sale of financial instruments offered through

Huddlestock's cooperation partner, Baader Bank.

AVL was founded in 1997 by Uwe Lange in Weinstadt near Stuttgart. Since then,

AVL has successfully brokered products with an investment approach at favorable

conditions through a digital offering. As an independent, owner-managed company

based in Weinstadt near Stuttgart, AVL Finanzvermittlung is today one of the

leading financial brokers in the discount segment with more 60,000 end customers

and an invested volume of over 2 billion euros.

"We are proud that AVL, in my view one of the most successful challengers in the

German market, has chosen to work with Huddlestock, which has been manifested by

the signed LOI. We are confident that our investment-as-a-service solutions will

make an important contribution to AVL's growth strategy in online trading of all

financial instruments," says John E. Skajem, CEO of Huddlestock Fintech.

Co-CEO of AVL, Simon Lange, says: "As one of the most progressive and successful

providers of investment services in Germany, we are very keen to expand our

offering and reach new target groups. We want to achieve this together with

Huddlestock, which has proven itself to be a modern and customer-oriented

technology and service provider in recent years."

The signed LOI with AVL is of strategic importance for Huddlestock as it

confirms the interest of the German market in Huddlestock´s

Investment-as-a-Service offering, especially since this is outside the Nordic

region. Huddlestock has been present in the German market since 2019, including

deliveries to among others, Solaris Bank. The expected revenue for Huddlestock

consists of a combination of retail fees and trading commissions.

All press and investor releases can be found in the Investor Relations section

of our corporate website www.huddlestock.com/investor-relations -

http://www.huddlestock.com/investor-relations

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

* John E. Skajem, Chief Executive Officer, Huddlestock Fintech, +47 418 87 412,

john.skajem@huddlestock.com

* Leif Arnold Thomas, Chief Corporate Development, Huddlestock Fintech -

Corporate Development, +47 982 15 520, leif.thomas@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock Fintech is an innovative technology software provider with a leading

expert professional services business. We deliver innovative and sustainable

technology solutions to the capital markets, treasury and wealth management

industries.

Through its technology offering, Huddlestock offers an innovative, compliant,

and data-centric WealthTech SaaS, accelerating the digital transformation, and

trends of hyper-personalization and on-demand banking within the wealth

management industry. Huddlestock's SaaS empowers the embedding of low-cost,

efficient white-label trading and investment services, underpinning

Huddlestock's mission of delivering financial inclusion by democratizing access

to capital markets.

Through its world-class expert professional services business, Huddlestock

delivers strategic technology solutions and process automation for the financial

services industry. This range of services has propelled Huddlestock into

becoming the preferred supplier of financial consultancy services and technology

solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext

Growth Market 26th November 2020, as Norway's first fintech company to be

publicly traded.

For more information, please visit www.huddlestock.com -

http://www.huddlestock.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17848032/2847/3962/Download%20announcement

%20as%20PDF.pdf