France’s BNP Paribas Asset Management (BNPP AM) has acquired a majority stake in Gambit Financial Solutions, a Belgium-based robo-advisory investment solutions provider, for an undisclosed sum.
Gambit will now serve as the preferred partner for robo-advisory solutions for BNP Paribas Group’s retail and wealth management networks.
The Belgian fintech firm will however retain its independence, and continue with its existing management.
BNPP AM CEO Frederic Janbon said: “The partnership with one of the most advanced robo-advisory solutions available in the market is a key milestone in our digital transformation and marks our commitment to delivering quality investment solutions to our clients. Gambit and its management have built an impressive track record and a strong client base, and we are securing the talents that have driven its success.
“Moreover we bring our asset management expertise and client knowledge to Gambit and this powerful combination will lead us to quickly move along the digital experience curve in this field. This will significantly accelerate the pace of development and enrichment of our customer journey in the area of financial savings.”
Gambit, set up in 2007 as a spin-off from HEC University of Liege by academics, employs 50 staff. Its offerings are used by private and retail banks, asset managers and insurance firms in Belgium, Luxembourg, France and Switzerland. The firm’s recent offering is a B2C robo-adviser named Birdee.