Evergreen acquires Rubarb customers
Anna-Lena Malter
| 02.08.2022
The robo-advisor is offering a switch to the fintech's 40,000 customers. Rubarb had to file for insolvency earlier this month.
Good news for the customers of the insolvent fintech Rubarb: The robo-advisor Evergreen is ready to take over the customers of the Hamburg-based company. The former Rubarb users can continue to pursue their savings goals with Evergreen at identical conditions.
How much Evergreen will pay for this was not disclosed. Iven Kurz, founder and CEO of Evergreen, said he was positive about the acquisition: "We are pleased to be able to offer Rubarb customers a sustainable and straightforward way to continue saving for their dreams."
Rubarb had generated attention in recent months, primarily because founders Fabian Scholz and Jakob Scholz are nephews of German Chancellor Olaf Scholz. However, they had to file for insolvency in early July. Before that, they had attempted a pivot to a crypto offering, but at the worst possible time. According to the insolvency administrator, the then-created subsidiary Kudona, based in Lithuania, is not affected by the proceedings, as Finance Forward reported.
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