Huddlestock signs first Family Office to use the Portfolio Management platform

Huddlestock Fintech AS, a provider of innovative, end-to-end technology solutions to the capital markets, treasury and wealth management industries, has entered into an agreement with a Norwegian Family Office to start using the Portfolio Management System (PMS) and reporting platform for their investment portfolios. The client wants to be anonymous, and it is therefore agreed between the parties that the client`s name shall not be published. 

In choosing the digital PMS and reporting platform, the Family Office will be able to have a complete system for entering, monitoring, and reporting all their investments into one digital system. The platform allows for all investment products to be entered whether it is listed on a regular stock exchange or if it is an “over the counter” investment. Huddlestock Investor Services will administer the service and assist the client with required support. The client will initially operate the technical platform themselves with the administration of user groups, set up of ISIN numbers, define investment objectives, input investment transactions, and create customised and required reports. The system is a cloud-based SaaS solution with a 2-factor authentication for secure access. The signed agreement will provide Huddlestock with NOK 300.000-400.000 in annual recurring revenue initially. 

“We are delighted that this family office has chosen to work with us. Through Huddlestock Investor Services, the client will experience a digitalised platform to allow them to gain greater visibility and control over all their investments in one solution as well as efficiency in reporting functionality. We are thrilled to accompany client on their journey,” says John E. Skajem, Group CEO Huddlestock Fintech.

The service will be powered by Huddlestock Investor Services in cooperation with our partner, Britech. Britech is long standing partner of Huddlestock and delivers a technical solution named Pivolt. Huddlestock Investor Services has incorporated Pivolt in the current technical platform which has been operational for many years. The implementation is already underway and will be live during first half of 2023.

The agreement delivers on the wide range of Huddlestock’s product offering. The wealth management sector of the capital market is part of the company´s core focus area, and it is exciting to see that the solution offered serves all aspects required by a demanding Family Office requiring a portfolio management and reporting solution. Huddlestock is pleased to see the client as their first client utilising the offering in Scandinavia.  

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

To see all press and investor releases please have a look in the investor relations section of our corporate website www.huddlestock.com/investor-relations

For further information, please contact: 

John E. Skajem, CEO, +47 418 87 412, john.skajem@huddlestock.com

Leif Arnold Thomas, Chief Corporate Development, +47 982 15 520, leif.thomas@huddlestock.com