This archive report was first published on 9 January 2020.
On January 9, 2020, Asset & Resource Management Holding Company Limited (ARM) announced its investment in Trove, a micro-investing application that enables users to invest in financial securities in Nigeria and international markets.
This strategic move aligns with ARM's commitment to leveraging technology to revolutionize how clients access and consume financial services.
Recall that in May 2019, ARM partnered with Ventures Platform to launch the Labs by ARM Accelerator Programme, which focused on supporting start-ups utilizing technology to solve specific problems. Trove emerged as one of the six participants in the program.
Through the partnership, ARM clients will have access to global markets, including the New York Stock Exchange (NYSE) and NASDAQ, which have a combined market capitalization of over $40 trillion.
ARM clients can seamlessly participate in the global economy and own shares in valuable companies such as Facebook, Lyft, Pinterest, and Zoom without the need to reside in the US or have a social security number.
The team behind Trove comprises repeat founders and finance professionals with experience working in companies like Goldman Sachs and UBS Investment Bank.
Speaking about the partnership, Managing Director of ARM Financial Advisers Limited, Mrs. Henrietta Bankole-Olusina, said, “We believe that this is a wonderful opportunity to enlarge the investment playing field for our valuable clients, enabling them to trade in diverse stocks and accumulate wealth globally from the comfort of their homes.”
