Elev8, a new major brokerage brand, launched on 9 February. It was created by a group of companies that had previously operated under the Octa brand. However, the group recently made a key strategic decision to separate, determining that independence offered better growth prospects.

Before the recent changes, Octa operated according to a brand-sharing structure. Several independent companies used its brand name and attributes to do brokerage business in various regions. The companies didn't compete in overlapping markets, so the model offered considerable benefits to all companies involved. 

Aiming for complete independence and seeking new growth opportunities, a group of companies that shared the Octa name launched its own global brokerage brand, Elev8. 

According to Elev8, their independent status will allow them to move beyond the constraints associated with the joint use of the Octa name. At the same time, Elev8 plans to make full use of the accumulated best practices, infrastructure, and expertise —after all, the specialists behind it are said to have more than 15 years of industry experience. 

The new brand plans to adopt a new identity while keeping the customer journey as is. Additionally, Elev8 stated that nothing will change for its clients and partners: benefits, conditions, and functionalities will remain the same.

The announced launch of Elev8 is notable in the industry: observers will watch whether the new player can leverage its expertise to capture new market share. Elev8 claims to have a firm foundation in infrastructure and expertise, while an independent brand will offer new growth prospects.