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A minority share in Danish fintech Kenzi Wealth is acquired by EFG Hermes.

May 21, 2024
1 Min Read

Danish fintech company Kenzi Wealth now has a minority ownership held by Middle Eastern investment bank EFG Hermes.

AI

Kenzi Wealth assists investors in building and adjusting their portfolios through the use of AI-powered asset management technology and investment risk analytics.

According to EFG Hermes, it will distribute the technology to all of its clients in the Mena area. giving clients a more customized and effective investing experience.

 

"With this important move, EFG Hermes expands its portfolio of products and services by entering the personalized investment tools market through the use of cutting-edge technology," says Ahmed Waly, Global Head of Brokerage at EFG Hermes. The amalgamation of our well regarded research proficiencies with Kenzi Wealth's state-of-the-art artificial intelligence-driven digital investment instruments is a component of our mutual objective to present an exceptionally all-encompassing and unmatched end-to-end investment journey that revolutionizes the sector."

 

In order to integrate research, trading, and portfolio management into a single platform, EFG Hermes will also leverage Kenzi Wealth's technology as part of the agreement to enhance its trading platform, EFG Hermes ONE.

"We are committed to empowering our clients with the tools they need to make informed investment decisions and achieve their financial goals," says Ahmed Waly. "This is only the start. Based on EFG Hermes' ambitious fintech roadmap—which intends to expand the variety of investment products and services it offers in partnership with Kenzi Wealth—many more synergy potential exist."

The transaction's terms were kept a secret.

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