Milan-listed diversified financial firm Azimut signed a definitive agreement for acquiring Beanstox, an US fintech that TV celebrity and inverstor Kevin O’Leary and ceo Connor O’Brien founded in 2018. The target offers automated investment and financial advice services to American savers via an app. The parties did not disclose the deal value (statements of Azimut and Beanstox).
The deal allowed an exit for the crowd equity investors that joined StartEngine campaigns in 2020 (one million US Dollars – 15 million pre-money value) and in 2022 (2.8 million – 26.98 million).
O’Leary and O’Brien financed the go-to-market of Boston-based Beanstox and after then lunched the campaigns for issuing class B stocks without voting rights through capital increases. In the Annual Report filed with the SEC on 27 April, Monday, each of the two co-founders said to own 41.5% the business whilst the remaining stakes belonged to crowd investors.
The closing of the transaction with Azimut should take place in 4Q26, subject to regulatory approval and the usual conditions precedent, including the completion of a corporate reorganisation and a client consent process in accordance with the Investment Advisers Act of 1940. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal adviser to Azimut, whilst Stradley Ronon Stevens & Young LLP assisted Beanstox, its management and controlling shareholders. The current management team will continue to lead Beanstox.
Beanstox is a SEC Registered Investment Advisor (RIA) that developed a B2C app that allows clients to make automated and recurring investments in personalised ETFs portfolios.
The company has not yet achieved a relevant scale. The 2025 financials filed with the SEC say that Beanstox more than doubled its revenue of little below 0.282 million (up from 0.113 million in 2024) but recorded a net loss of 1.204 million US dollars (-1.464 million in the previous financial year). By the end of 2025, the accumulated deficit since the company’s incorporation reached 8.115 million. Controlling shareholders supported the company’s development. By the end of 2025, Beanstox interest-free debt with Beanstox Investments Inc. amounted to 4.761 million. The SEC filing also indicates that, given the current cost structure, management estimated the break-even point to be around 30,000 paying customers on the Plus and Premium plans.
For Azimut, however, the deal marks a direct entry into the US direct-to-consumer wealth management market. The United States is already the Italian group’s second-largest market in terms of total assets under management, and Beanstox may become the digital gateway to Azimut’s operations in the country. The deal involves integrating the fintech platform with the group’s wealth management expertise and its proprietary range of ETFs in the United States.
Azimut pointed out that Beanstox has a customer acquisition model with costs much lower than the industry average and identifies a potential market of around 120 million American adults who do not currently invest.
Giorgio Medda, ceo of Azimut Group, said: “The acquisition of Beanstox is a key step in our expansion strategy in the United States. Further to opening a direct channel to a vast and as yet underserved market of American savers, this partnership will enable us to gain expertise in innovative commercial and pricing strategies designed for the digital age. Beanstox developed a highly valuable platform that makes investing simpler and more accessible with a cost-effective and well-proven acquisition model. We are delighted to be working with Kevin, Connor and their team to integrate Azimut’s proprietary investment expertise and resources, with the aim of strengthening and further developing the Beanstox platform, offering its clients even greater value and enabling them to build wealth over the long term. This transaction consolidates Azimut’s position as a truly global and intergenerational financial platform, capable of supporting clients at every stage of their lives and well-positioned to capitalise on the structural trends of digitalisation and financial wellness in the world’s largest wealth management market”.
O’Leary, cofounder and chairman of Beanstox, added: “Millions of Americans have not yet started investing. Building wealth should be a simple process. Beanstox enables people to invest automatically, every week, the amount of their choice in a personalised portfolio of ETFs, structured by industry professionals. With Azimut’s support, we will be able to reach and help even more people to start their investment journey”.
O’Brien, cofounder and ceo, concluded: “The integration with Azimut combines Beanstox’s digital investment platform – designed for retail investors – with the resources and global expertise of a market leader such as Azimut. This move will accelerate our next phase of development. By sharing know-how with Azimut’s Global Team, we will be able to strengthen our offering, create greater value for customers and build an ecosystem with prospects for significant and sustainable growth within the group”.
