Bristol-based Yourwealth.co.uk and its Money Hub app technology have been acquired by South African investment firm Momentum, for an undisclosed fee.

The company’s technology has been praised since its launch last summer. It’s founders say it brings to market accessible technology which gives people control of their financial portfolio, and an ability to manage it more effectively.

Aimed at people with anything from £5 to £50 million, YourWealth.co.uk and Money Hub offer access to information, products and financial advice.

The acquisition, by the UK arm of Momentum, is subject to regulatory approval.

Momentum chief executive Ferdi van Heerden said: “This acquisition is exciting for Momentum as it is in line with our South African initiative aimed at providing consumers with pertinent information to assist them to manage their financial wellness.”

YourWealth founder Toby Hughes added: “My vision when we set out was to empower people to make better choices over their financial futures by using our technology. The deal gives us the opportunity to fast track development for both YourWealth and MoneyHub.”