BULLO STATEMENT
FOR IMMEDIATE RELEASE
30/07/2024
Dear Valued Bullo Community,
Since February, we have experienced remarkable growth, which has been as exciting for us as we hope it has been for you to witness.
We are thrilled to announce that we have successfully completed our Series A fundraising round, marking the beginning of the next phase for Bullo.
In alignment with our strategic direction and the desire of the Bullo board to pursue regulatory licensing in several Tier 1 jurisdictions, we have decided it is prudent to pause our prop-based services. This decision is due to the current uncertainty surrounding the regulatory framework for prop firms. We firmly believe that regulation is essential for protecting traders.
While we may consider reintroducing our prop-based services once there is regulatory clarity, it is not wise for us to continue offering these services at this time, given our significant investment in regulatory licensing. This decision has been taken after numerous discussions with third-party consultants and regulators.
Looking ahead, Bullo aims to become the Robinhood of Europe, the UK and the Middle East, with plans to eventually expand into the United States.
Therefore, we bid farewell to our prop services, for now. Current customers will receive detailed information via email regarding the next steps. Rest assured, we will ensure that no customer is financially disadvantaged due to this decision.
Keep following us to see exciting updates of Bullo!
Love,
Bullo Team
Bullo Platforms LLC FZCO
Dubai Digital Park, Dubai Silicon Oasis, Dubai, United Arab Emirates
IFZA Licence No. 41456 | D-U-N-S: 850105493
