BUX

BUX is a Dutch financial-technology company and mobile brokerage headquartered in Amsterdam. Its consumer proposition is built around app-based access to financial markets, with a focus on making investing and trading more accessible to European retail customers. The company has offered products including shares, exchange-traded funds and cryptocurrency services, while its earlier BUX app was centered on leveraged contracts for difference, or CFDs. The business was founded in July 2013 by Nick Bortot, a former executive at Dutch online broker BinckBank. Its initial backing came from the founders and Orange Growth Capital. BUX introduced its first application in the Netherlands in September 2014 and expanded to the United Kingdom several months later. The initial product used a CFD-based model, allowing customers to speculate on market movements rather than necessarily owning the underlying assets. This model shaped the company's early growth but also created regulatory constraints in some markets, including Belgium, where the application was withdrawn from local app stores in 2016 after restrictions on marketing leveraged CFDs. BUX attracted additional venture funding as it expanded. It raised €1.7 million from Initial Capital in September 2015 and a further US$6.9 million in February 2016 from Holtzbrinck Ventures and existing investors Orange Growth Capital and Velocity Capital. Germany became an available market in 2016, followed by Italy in 2017. In October 2017, the company raised another €10.6 million from existing shareholders and private investors, and it raised a further €1.4 million through a Seedrs crowdfunding campaign. By November 2018, BUX reported two million users across nine European countries. The company subsequently broadened its business beyond its original CFD proposition. In 2019, BUX worked with ABN AMRO on technology for a planned commission-free trading service and introduced BUX Zero in the Netherlands. BUX Zero was positioned as an app-based investing platform for customers seeking access to shares and ETFs, rather than the predominantly leveraged trading experience associated with the original BUX app. The service expanded to Germany and Austria in June 2020, France in July 2020 and Belgium in August 2020. BUX also entered cryptocurrency services through the acquisition of Blockport in January 2020. After registering the business with the Dutch Central Bank, BUX relaunched it as BUX Crypto in April 2020. In the same broad period, BUX acquired Ayondo Markets Limited, a United Kingdom subsidiary of Singapore-based broker Ayondo, using part of a US$12.5 million venture financing round announced in June 2019. BUX's ownership changed significantly after its growth-stage period. Reports described discussions about a possible acquisition by German digital bank N26, but those talks ended after the parties disagreed over revised terms and valuation. In December 2023, ABN AMRO announced an agreement to acquire BUX for an undisclosed amount. The transaction was reported as completed in July 2024, making BUX a subsidiary of the Dutch banking group. Its present identity is therefore that of an ABN AMRO-owned European digital investment platform, with the BUX brand retaining its association with mobile-first retail investing.

BUX was established in Amsterdam in July 2013 by Nick Bortot, who had previously worked as an executive at Dutch online broker BinckBank. The founders and Orange Growth Capital provided the initial financing. The company's original ambition was to make market trading more accessible through a consumer-oriented mobile application rather than a traditional desktop brokerage interface. The first BUX app launched in the Netherlands in September 2014 and reached the United Kingdom several months later. Its early business model was based on contracts for difference, a leveraged product that allows customers to speculate on changes in the price of an underlying asset. This approach supported a highly accessible trading proposition, but it also exposed the company to different national rules governing the marketing and distribution of leveraged products. In October 2016, BUX removed its app from Belgian app stores only about a month after its local launch because Belgian law prohibited the commercialization of leveraged CFDs. BUX's expansion was supported by successive investment rounds. Initial Capital invested €1.7 million in September 2015. In February 2016, Holtzbrinck Ventures joined existing investors Orange Growth Capital and Velocity Capital in a US$6.9 million financing round. Germany was added to the app's market footprint during 2016, and Italy followed in January 2017. In October of that year, BUX raised €10.6 million from Holtzbrinck Ventures, Velocity Capital Management and private investors. Those investors included Arthur Kosten, formerly associated with Booking.com, BinckBank founder Thierry Schaap and Mollie founder Adriaan Mol. BUX also used the Seedrs platform to raise a further €1.4 million from a crowdfunding campaign. The company's user base grew during this period. By November 2018, BUX reported two million users in nine European countries. Its visibility was also reinforced by recognition in the 2016 Accenture Innovation Awards and inclusion by Wired UK in a list of Europe's notable emerging startups. A major strategic transition began in 2019. BUX partnered with ABN AMRO on a planned commission-free trading application using technology associated with the bank's blockchain work. In June, BUX announced US$12.5 million in venture funding. Some of this capital supported the acquisition of Ayondo Markets Limited, a UK subsidiary of Singapore-based broker Ayondo, for an estimated £5.7 million. In September 2019, BUX launched BUX Zero in the Netherlands. The new service emphasized investing in conventional securities such as shares and exchange-traded funds, broadening the company's proposition beyond the original CFD-focused app. BUX continued to diversify through digital assets. In January 2020, it acquired Blockport, a European cryptocurrency exchange. After registering the operation with the Dutch Central Bank, BUX rebranded and launched the service as BUX Crypto in April 2020. BUX Zero also expanded internationally: Germany and Austria received the service in June 2020, France in July and Belgium in August. The company later became the subject of acquisition discussions with German neobank N26. Those negotiations reportedly failed after N26 sought new terms and a lower price. A different ownership outcome emerged in December 2023, when ABN AMRO announced its intention to acquire BUX for an undisclosed amount. The transaction was reported as completed in July 2024. BUX consequently became an ABN AMRO subsidiary, combining its mobile-investing technology and consumer brand with the infrastructure and resources of a large Dutch banking group.

1. 2024Acquisition completed

   The acquisition by ABN AMRO was reported as completed in July.

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2. 2023ABN AMRO announces acquisition

   ABN AMRO announced an agreement to acquire BUX for an undisclosed amount.

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3. 2020BUX enters cryptocurrency and expands BUX Zero

   The company acquired Blockport, launched BUX Crypto and expanded BUX Zero into several European markets.

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4. 2019BUX Zero launches

   BUX introduced BUX Zero in the Netherlands and announced a financing round and the acquisition of Ayondo Markets Limited.

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5. 2018Two million users reported

   BUX reported two million users across nine European countries.

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6. 2017Italy launch and further fundraising

   BUX launched in Italy, raised €10.6 million and obtained additional funding through Seedrs.

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7. 2016Germany launch and Belgian withdrawal

   BUX expanded to Germany but removed its Belgian app after local restrictions on commercializing leveraged CFDs.

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8. 2015Initial Capital financing

   BUX raised €1.7 million from Initial Capital.

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9. 2014First BUX app launches

   The company's first mobile application launched in the Netherlands in September and later expanded to the United Kingdom.

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10. 2013BUX is founded

    Nick Bortot founded BUX in Amsterdam in July, with initial funding from the founders and Orange Growth Capital.

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A mobile-first European investment platform for retail investors, combining accessible app-based investing with brokerage and, historically, leveraged trading and cryptocurrency services.

• BUX appCFD trading application2014

  BUX's original mobile trading application launched in 2014. It was built around contracts for difference, enabling retail customers to speculate on price movements through a smartphone-oriented interface. The application expanded from the Netherlands to the United Kingdom, Germany and other European markets. Its leveraged-product model was subject to national regulatory differences, and the company withdrew the app from Belgium in 2016 because local law prohibited the commercialization of leveraged CFDs.

• BUX ZeroMobile brokerage2019

  BUX Zero is BUX's investment-focused mobile brokerage platform. Launched in the Netherlands in 2019, it broadened the company's proposition from leveraged trading toward access to conventional investments, including shares and exchange-traded funds. The service expanded to Germany and Austria in June 2020, France in July 2020 and Belgium in August 2020, reinforcing BUX's strategy of building a pan-European retail-investing platform.

• BUX CryptoCryptocurrency exchange and trading service2020

  BUX Crypto was created after BUX acquired the European cryptocurrency exchange Blockport in January 2020. Following registration with the Dutch Central Bank, the operation was rebranded and launched as BUX Crypto in April 2020. It extended the BUX product family into digital-asset trading while remaining part of the company's broader mobile financial-services strategy.

• 2017Seedrs crowdfunding campaign

  Europe

  BUX used Seedrs to invite additional investment from the public alongside its institutional fundraising. The campaign raised €1.4 million.

  Outcome. The campaign provided additional capital during BUX's European expansion period.

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• 2023Agreement to sell BUX to ABN AMROM&A

  After reported but unsuccessful acquisition discussions with N26, BUX entered into an agreement with Dutch banking group ABN AMRO.

  What changed. ABN AMRO announced its agreement to acquire BUX for an undisclosed amount.

  Aftermath. The transaction was reported as completed in July 2024, making BUX an ABN AMRO subsidiary.

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• 2020Acquisition of BlockportM&A

  BUX pursued diversification into cryptocurrency services as digital-asset platforms became part of the European retail-finance landscape.

  What changed. The company acquired Blockport, completed the relevant Dutch registration process and relaunched the business as BUX Crypto.

  Aftermath. BUX added cryptocurrency trading to its mobile financial-services portfolio.

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• 2019Shift toward commission-free investingStrategy

  BUX sought to broaden its consumer offering beyond the original CFD-based trading app and partnered with ABN AMRO on technology for a planned commission-free trading service.

  What changed. BUX launched BUX Zero in the Netherlands as an investment-oriented platform for products such as shares and ETFs.

  Aftermath. BUX Zero became the company's principal expansion vehicle across several European markets in 2020.

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• 2016Withdrawal from the Belgian marketOther

  BUX's original application was based on leveraged CFDs, and Belgium prohibited the commercial promotion of that product category.

  What changed. The company removed the BUX app from Belgian app stores approximately one month after its Belgian launch.

  Aftermath. The episode demonstrated the regulatory limits on BUX's original CFD-led expansion strategy.

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• 2024ABN AMRO completes the acquisition of BUX

  The acquisition of BUX by ABN AMRO was reported as completed in July.

  M&A
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• 2023ABN AMRO agrees to acquire BUX

  ABN AMRO announced an agreement to acquire BUX for an undisclosed amount.

  M&A
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• 2020BUX acquires Blockport and creates BUX Crypto

  BUX acquired cryptocurrency exchange Blockport, registered the operation with the Dutch Central Bank and relaunched it under the BUX Crypto name.

  M&AProduct launch
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• 2020BUX Zero expands across continental Europe

  BUX Zero launched in Germany and Austria in June, France in July and Belgium in August.

  Product generation
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• 2019BUX partners with ABN AMRO on commission-free trading technology

  BUX and ABN AMRO collaborated on using the bank's blockchain-based technology for a planned commission-free trading application.

  Other
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• 2019BUX raises US$12.5 million and acquires Ayondo Markets Limited

  BUX announced a venture financing round and used part of the capital to acquire the UK subsidiary Ayondo Markets Limited.

  M&A
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• 2019BUX launches BUX Zero in the Netherlands

  The company introduced BUX Zero as a mobile investment platform in its home market.

  Product launch
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• 2018BUX reports two million users

  By November, the company reported two million users across nine European countries.

  Other
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• 2017BUX raises €10.6 million and conducts Seedrs crowdfunding

  BUX obtained institutional and private investment and separately raised additional capital through a Seedrs crowdfunding campaign.

  Other
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• 2016BUX raises US$6.9 million and expands to Germany

  The company secured additional backing from Holtzbrinck Ventures and existing investors, while making its app available in Germany.

  Other
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• 2016BUX withdraws its app from Belgium

  BUX removed its app from Belgian app stores shortly after launch because local rules prohibited the commercial promotion of leveraged CFDs.

  Regulation
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• 2015BUX raises €1.7 million from Initial Capital

  BUX announced a venture financing round from Initial Capital as it developed its mobile brokerage business.

  Other
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1. BUX (brokerage)
2. BUX official website