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BUX CEO Yorick Naeff sees ‘no future’ in the UK market

Hedge Funds Correspondent

Amsterdam-based neo-broker BUX has laid off roughly 40% of its workforce amid a funding drought in the fintech sector.

Backed by Tencent, BUX provides brokerage services across Europe and the UK. The firm raised $80m in April 2021 in a funding round that included Tencent, ABN Amro Ventures and Prosus Ventures.

Tencent-backed fintech BUX cuts 40% of staff in bid to turn profit

Bilal Jafar

Prosus Ventures

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