Global wealth management platform FNZ has today agreed to buy online investment platform Hatch from Kiwi Wealth for an undisclosed sum.
Hatch is a ‘D2C digital investment platform that provides New Zealanders with access to the US share markets.
This acquisition is an investment by FNZ in improving access to global wealth management solutions for all New Zealanders. FNZ intends to “invest heavily in Hatch” to broaden the range of asset classes, investment styles and expand the offering in other markets.
Hatch will operate as an autonomous business unit within the wider FNZ Group.
James McDonnell, chief executive of FNZ New Zealand, said: “The employees and management team of Hatch have built an incredible business in the three years since their inception. This transaction enables Hatch to accelerate its pace of growth and expand its product offering.
“As a business founded in New Zealand, we are delighted to have the opportunity to support a thriving and entrepreneurial homegrown start-up that allows its growing customer base to invest in companies they believe in.”
