Kapitall, a next-generation investing platform where modern investors can learn about the market, announced today its acquisition of digital advice platform, Wealthyx. The new entity, "Wealthyx, a New Kapitall Holdings Company", will continue to focus on its robo-advisory solutions tailored for customers of Kapitall, as well as seek to expand its footprint in the advisor marketplace.
The transaction enhances Kapitall's expanding product offerings, as it continues to redefine how new generations experience, share, and learn about investing.
"Wealthyx has a unique value proposition in the robo-advisory segment, with customizable and exciting solutions to manage client assets. This further promotes Kapitall's goal to become the premier investing platform and mobile experience for emerging investors." said Barry Mione, President of New Kapitall Holdings.
Kapitall's platform is, "leading the way in the gamification of the financial world," according to Reuters. Modeled after video games, it provides a fun and entertaining way for Millennials and novice investors to learn about investing through rewards-based engagement, including chances to win money. Players "level-up" through completion of quests, competing in tournaments, building virtual and real brokerage portfolios, and sharing ideas. Kapitall has over 302,000 members and 60,000 combined practice and live trading accounts.