Huddlestock announced on Friday, March 22nd, that the company’s client Stackby.me will go live with a new app utilizing Huddlestock’s IP technology. The new app enables trading in Norwegian funds and is powered by technology from Huddlestock’s acquisition of the Swedish company Bricknode in 2023. Stackby.me’s current fund trading app is powered by Huddlestock through a third-party solution.
Stackby.me has been a client of Huddlestock, and their current fund trading app is powered by Huddlestock through a third-party solution. In Q3-23, Huddlestock announced that the company had signed a Letter of Intent (LOI) with Stackby.me regarding the integration of equity trading into Stackby.me’s investment app. Huddlestock announced on Friday, March 22nd, that the company will go live on April 4th with a new app utilizing Huddlestock’s own IP technology to enable trading in Norwegian funds. The technology enabling this extended customer collaboration is based on Bricknode technology.
Stackby.me’s app launch on April 4th, 2024, signifies that Bricknode technology has been adapted to Norwegian market requirements and is now ready to go live for an existing customer, one year after the acquisition. Fund trading in the new app represents the first functionality from Stackby.me powered by Huddlestock’s own IP technology. Following the LOI signed by Huddlestock in Q3-23 with Stackby.me regarding equity trading, the next step is to integrate stock trading functionality through the app, on which the two parties are already working on, further expanding the customer collaboration and enhancing Stackby.me’s current offering of investment products provided by Huddlestock.
Analyst Group view on Huddlestock
“Stackby.me will go live with a new app empowered entirely by Huddlestock’s technological offering, signifying a shift away from a third-party solution for fund trading and now enabling trading in Norwegian funds through Huddlestock IP technology. This is made possible by Huddlestock’s earlier acquisition of Bricknode and signifies that now, one year later, the integrated technology has been adapted to Norwegian market requirements and is ready to go live for an existing customer. The extended customer collaboration demonstrates the company’s R&D capacity and underscores the company’s unique offering within Investment-as-a-Service, with the next step being the integration of stock trading functionality through the app, empowered by Huddlestock. Stackby.me showcases Huddlestock’s ability to grow with existing customers, where the customer agreement also is expected to expand when stock trading is incorporated into the app, in line with the LOI signed in the year 2023. Stackby.me is already an existing customer, demonstrating the revenue synergies Huddlestock can create through the company’s acquisition strategy. Although Huddlestock has not reported what the extended customer collaboration entails in financial terms, this demonstrates the company’s technological capacity and establishes the position as a unique provider of Investment-as-a-Service in the North European market, expected to have ripple effects and potentially serve as an important reference customer in the future, while the company has good opportunities to grow alongside the customer”, says the analyst at Analyst Group covering Huddlestock.
About Stackby.me
Stackby.me gives Norwegians easy access to investments, providing a platform that feels like social media, offering a more user-friendly and engaging investment system. The investment platform is targeting female investors and was founded on a vision to democratize the capital market knowing that women are underrepresented in all areas of finance.
