Trove Finance brings brokerage services in-house with UCML Securities acquisition
- Trove Finance acquired UCML Securities Limited and rebranded it as Innova Securities Limited.
- The acquisition allows Trove to deepen control over trade execution, compliance, and customer experience.
- Trove has facilitated over ₦500 billion ($300+ million) in trades since its launch.
The acquisition of UCML Securities by Trove Finance represents a strategic move to enhance operational capabilities and user trust in a competitive fintech landscape. This trend of consolidation may lead to more robust financial services in Nigeria, but it also raises questions about market competition and innovation.
