Huddlestock announced that it has signed a Letter of Intent (LOI) with AVL Finanzvermittlung Beteiligungen GmbH to establish a cooperation between the parties to offer trading and investing in all types of financial instruments to German clients. The aim of the agreement is to establish a collaboration between the parties for offering trading in all types of financial instruments, initially to the German market. Through this collaboration, the parties intend to utilize their respective resources, expertise and networks to create a platform for investing in financial products such as equities, investment funds, ETFs, futures and fixed income products.

AVL will interface and be responsible for the client relations with the end client, while Huddlestock will provide the technological, regulatory and procedural infrastructure and services related to trading and investing. This letter of intent is expected to lead to a contractual cooperation agreement between the parties within a short period of time. The expected final agreement is a cooperation agreement between the parties involving the purchase and sale of financial instruments offered through Huddlestock's cooperation partner, Baader Bank.

The signed LOI with AVL is of strategic importance for Huddlestock as it confirms the interest of the German market in Huddlestock's Investment-as-a-Service offering, especially since this is outside the Nordic region. Huddlestock has been present in the German market since 2019, including deliveries to among others, Solaris Bank.