UK Robinhood rival Freetrade snapped up by trading firm at 29% valuation discount

Key Points

U.K. Robinhood rival Freetrade has been acquired by IG Group for £160 million ($195.3 million) — a 29% discount to its last valuation.
The is a sign of consolidation coming to the wealth technology industry, which is a subsector of fintech.
Last year, Hargreaves Lansdown was acquired for £5.4 billion by a consortium of investors including private equity giant CVC Group.

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