Smava buys Finanzcheck

The two platforms for loan comparisons become one company. The takeover apparently costs Smava 200 million euros.

They both offer loan comparisons, last year they jointly brokered more than four billion euros - now one is taking over the other. As the two start-ups announced today, the credit portal Smava is buying 100 percent of the financing platform Finanzcheck. According to information from Handelsblatt, 200 million euros will flow into the deal at the end of February. The money comes from Smava's existing investors Earlybird Venture Capital, Kreos Capital and other investors. Proventus Capital Partners is a new investor. According to Handelsblatt, the seller Speedster Bidco will take a ten percent stake.

"It is our clear goal to become the number one point of contact for consumer loans in Germany. The acquisition of Finanzcheck is a major step in this direction," says Alexander Artopé, CEO of Smava. Founded in 2007, the company claims to have brokered loans for half a million customers to date.

Finanzcheck has a cross-bank approach to its offering and claims to employ 320 people. CEO Moritz Thiele COO and Andreas Kupke will step down from their positions following the merger.