9.1.2024 12:41:10 CET | Huddlestock Fintech AS | Non-regulatory press releases

Huddlestock, a leading Investment-as-a-Service provider, today announced that it
has signed a Letter of Intent (LOI) with Weinstadt, Germany-based AVL
Finanzvermittlung Beteiligungen GmbH

Huddlestock Fintech AS (OSE: HUDL) announced today that the German Huddlestock
GmbH has signed a Letter of Intent (LOI) with AVL Finanzvermittlung
Beteiligungen GmbH (AVL) to establish a cooperation between the parties to offer
trading and investing in all types of financial instruments to German clients. 

The aim of the agreement is to establish a cooperation between the parties for
offering trading in all types of financial instruments, initially to the German
market. Through this collaboration, the parties intend to utilize their
respective resources, expertise and networks to create a platform for investing
in financial products such as equities, investment funds, ETFs, futures and
fixed income products. AVL will interface and be responsible for the client
relations with the end client, while Huddlestock will provide the technological,
regulatory and procedural infrastructure and services related to trading and
investing. This letter of intent is expected to lead to a contractual
cooperation agreement between the parties within a short period of time. 

The expected final agreement is a cooperation agreement between the parties
involving the purchase and sale of financial instruments offered through
Huddlestock's cooperation partner, Baader Bank.

AVL was founded in 1997 by Uwe Lange in Weinstadt near Stuttgart. Since then,
AVL has successfully brokered products with an investment approach at favorable
conditions through a digital offering. As an independent, owner-managed company
based in Weinstadt near Stuttgart, AVL Finanzvermittlung is today one of the
leading financial brokers in the discount segment with more 60,000 end customers
and an invested volume of over 2 billion euros.

"We are proud that AVL, in my view one of the most successful challengers in the
German market, has chosen to work with Huddlestock, which has been manifested by
the signed LOI. We are confident that our investment-as-a-service solutions will
make an important contribution to AVL's growth strategy in online trading of all
financial instruments," says John E. Skajem, CEO of Huddlestock Fintech.

Co-CEO of AVL, Simon Lange, says: "As one of the most progressive and successful
providers of investment services in Germany, we are very keen to expand our
offering and reach new target groups. We want to achieve this together with
Huddlestock, which has proven itself to be a modern and customer-oriented
technology and service provider in recent years."

The signed LOI with AVL is of strategic importance for Huddlestock as it
confirms the interest of the German market in HuddlestockŽs
Investment-as-a-Service offering, especially since this is outside the Nordic
region. Huddlestock has been present in the German market since 2019, including
deliveries to among others, Solaris Bank. The expected revenue for Huddlestock
consists of a combination of retail fees and trading commissions.

All press and investor releases can be found in the Investor Relations section
of our corporate website www.huddlestock.com/investor-relations -
http://www.huddlestock.com/investor-relations



DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * John E. Skajem, Chief Executive Officer, Huddlestock Fintech, +47 418 87 412,
   john.skajem@huddlestock.com 
 * Leif Arnold Thomas, Chief Corporate Development, Huddlestock Fintech -
   Corporate Development, +47 982 15 520, leif.thomas@huddlestock.com 

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock Fintech is an innovative technology software provider with a leading
expert professional services business. We deliver innovative and sustainable
technology solutions to the capital markets, treasury and wealth management
industries. 

Through its technology offering, Huddlestock offers an innovative, compliant,
and data-centric WealthTech SaaS, accelerating the digital transformation, and
trends of hyper-personalization and on-demand banking within the wealth
management industry. Huddlestock's SaaS empowers the embedding of low-cost,
efficient white-label trading and investment services, underpinning
Huddlestock's mission of delivering financial inclusion by democratizing access
to capital markets.

Through its world-class expert professional services business, Huddlestock
delivers strategic technology solutions and process automation for the financial
services industry. This range of services has propelled Huddlestock into
becoming the preferred supplier of financial consultancy services and technology
solutions in the Nordic region. Huddlestock Fintech AS was listed on Euronext
Growth Market 26th November 2020, as Norway's first fintech company to be
publicly traded. 

For more information, please visit www.huddlestock.com -
http://www.huddlestock.com/



ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/2847/3962/Download%20announcement
%20as%20PDF.pdf