Huddlestock finalizes IaaS shift, sets ambitious Visigon targets

Huddlestock Fintech AS has successfully reshaped its IaaS business, moving to an asset-light model focused on Continental Europe, with Germany as the initial market. The company’s first IaaS customer, GIGA Broker, is expected to soft-launch its investment platform in mid-December 2025, with a broader launch planned for the first half of 2026, targeting over 65,000 existing AVL customers. Huddlestock aims for the IaaS business to become cash flow positive during 2026 through customer growth and cost discipline.

For its Consulting division, Visigon, Huddlestock has set long-term targets for 2028, aiming for NOK 100 million in revenue and a 20% EBITDA margin, with growth expected to be financed through operational cash flow. Despite a Q3 2025 operating income of NOK 9.7 million (down from NOK 15.5 million in Q3 2024 due to divestments), and a pro-forma EBITDA of negative NOK 5.5 million, Huddlestock is strengthening its leadership with the appointment of Sabine Merky as cfo on October 1, 2025.

Huddlestock reported a cash position of NOK 1.9 million as of September 30, 2025, supported by 3,718,086 Done.ai Group AB shares valued at NOK 31.1 million, which will help fund European expansion. The company’s regulatory foundation has been strengthened with BaFin confirmation under MiCAR, enabling it to accept and transmit orders for crypto-assets, enhancing its digital investment solutions across Europe.