Schufa takes over Bonify

The Berlin-based fintech has been cooperating with the credit agency since the spring. Now the Wiesbaden-based company is buying the start-up.

Germany's largest credit agency Schufa, based in Wiesbaden, is buying the Berlin-based fintech Bonify. Neither party is disclosing the purchase price, but according to media reports it is in the low to mid double-digit million range. Schufa and Forteil GmbH, as the company behind the Bonify brand is known, have been cooperating since the spring, for example in the development of the Schufa app. The credit agency now wants to improve its digital service and reach a younger target group through the takeover.

Tanja Birkholz, Chairwoman of Schufa, announced to Bonify customers that they will gradually gain insight into their personal Schufa data in 2023. Bonify also offers a credit check, i.e. an assessment of creditworthiness. According to the company, one million customers use the app every year. Previously, the fintech received the data from Boniversum, a subsidiary of Schufa's competitor Creditreform.

It is not yet clear whether this collaboration will continue. However, Bonify will remain an independent company. The fintech employs around 30 people and made a loss of six million euros in 2020. In the same period, the company generated 1.4 million euros, mainly from commissions on business brokerage. There are no more recent business figures.