Retail trader investment tools and research provider TipRanks has announced that its largest shareholder, IT investment house Prytek, has taken its stake in the company from 40% to 80%, after buying out company founders Uri Gruenbaum and Gilad Gat, other company employees, and several of the company’s outside investors.
The transaction was completed at a $200 million valuation for TipRanks, after the company had received a similar-valued buyout offer from an (unnamed) US based Internet company. Prytek decided to effectively match the offer instead of selling, which its shareholder rights allowed.
A number of the company’s outside investors will continue to hold the remaining 20% stake in TipRanks, including Israeli institutions More Investment House and Analyst. More co-led TipRanks’ last financing round in 2021 alongside Prytek and Poalim Equity – Poalim has since sold its stake to Analyst.
Prytek is headed by Israeli entrepreneur Andrey Yashunsky, who runs Prytek out of London and Singapore.
TipRanks has become a popular tool for Retail FX and CFDs broke to integrate into their trading platforms, providing research related tools for retail traders. TipRanks clients include IC Markets, IG Group, and CFI.
