Smava buys Finanzcheck

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

They both offer credit 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 platforms Finanzcheck. According to information from the Handelsblatt, 200 million euros are to flow for this 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. The seller Speedster Bidco is to take a ten percent stake, according to Handelsblatt.

"It is our clear goal to become the number one contact point for consumer loans in Germany. The purchase of Finanzcheck is a significant step in this direction," said Alexander Artopé, CEO of Smava. Founded in 2007, the company says it has so far brokered loans to half a million customers.

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