BinckBank Buys FinTech Advisor Pritle

Dutch online bank BinckBank has acquired Amsterdam-based robo-advisor Pritle for €12.5 million ($13.50 million US). Pritle is an online wealth manager which helps users define and track their financial operations through automatic portfolio re-balancing and personalized recommendations.

BinckBank claimed the acquisition provides momentum for the firm to expand its digital wealth management activities and geographic reach.

“Together with Pritle, we bring a ‘state of the art’ online portfolio management, platform and a driven entrepreneurial team in-house,” said a statement from BinckBank chairman Vincent Germyns. “The addition of Pritle enhances BrinckBank’s online discretionary portfolio management, with robo-advisory alongside existing discretionary management services.”

Pritle claims it has 6,500 customers with approximately €60 million in assets. Its team of 28 employees will transfer to BinckBank upon closing.

“I’m very proud of the achievements and drive of our international team since the launch of Pritle,” said Pritle CEO/founder Thomas Bunnik. “This combined with the substantial client base of BinckBank gives us the opportunity to accelerate the expansion of our online wealth management services in Europe.”