Horten has assisted the American listed Fintech company Robinhood Markets, Inc. in connection with the acquisition of the British electronic money institution and crypto asset firm Ziglu Ltd.
Robinhood Markets, Inc. is an innovative US-based platform for trading and savings in securities, bitcoins, etc., and the company currently administers USD 98 billion.
Ziglu Ldt's continental-European activities are operated via a Danish subsidiary, Ziglu Europe, which is registered as an electronic money institution with the Danish FSA and can operate on a cross-border basis in six other European countries.
The transaction is a part of Robinhood’s long-term strategy to offer its services on the European market. The transaction amounted to a three-digit USD million amount.
Claus Bennetsen and Morten Brun Winkelmann headed the transaction which consisted of regulatory advice on the Danish subsidiary and the transaction documents assisted by Christian Vesterling. The team succeeded having the transaction signed during Easter, and the work lying ahead is the regulatory phase in relation to licences from the Danish FSA and the British FCA until closing.