Octopus Group has bought Hugo Thorman Technology for £10m ($12m) to continue its strategy of disrupting the platform technology market. Hugo Thorman, which is based in Bath and London, uses open API custody to help companies create their own investment platforms. It works for financial advisers, wealth managers, fund managers and fintechs. The CEO of London-based financial services firm Octopus, Simon Rogerson, said the platform technology market is “crying out for change” and that once the Hugo Thorman deal is completed its team would be expanded. Hugo Thorman co-founder Seccl said the industry is on the brink of a shift in technology usage.
Octopus Group has bought Seccl Technology for £10m ($12m) to continue its strategy of disrupting the platform technology market. Seccl, which is based in Bath and London, uses open API custody to help companies create their own investment platforms. It works for financial advisers, wealth managers, fund managers and fintechs. The CEO of London-based financial services firm Octopus, Simon Rogerson, said the platform technology market is “crying out for change” and that once the Seccl deal is completed its team would be expanded. Seccl co-founder Hugo Thorman said the industry is on the brink of a shift in technology usage.