FNZ numbers revealed
Accounts filed in the Companies Office reveal that investment platform FNZ Holdings (NZ) Ltd paid $40.1 million to acquire Hatch Invest from Kiwi Wealth in November last year.
The deal included $10.5 million of net assets and $29.5 million of goodwill.
Hatch, a direct-to-consumer digital investment platform that gives New Zealanders cheap and easy access to US listed shares and more than 50 ETFs, was launched in 2018 and since then has attracted more than 130,000 investors.
Rather than offering managed funds, Hatch users manage their own investments (in a similar way to Sharesies and Stake).
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