- S-DAX listed Wüstenrot & Württembergische Group completely takes over treefin AG after majority takeover at the end of 2016
- Fintech- and Insurtech company builder Finconomy AG streamlines investment portfolio by selling remaining 21% equity stake of treefin AG and focuses solely on B2B business models going forward
treefin enables users to manage all their insurances, bank accounts and investments in one single app. As a digital insurance broker, treefin also helps to improve its users’ financial situation based on smart analytics. W&W Group already took over the majority of treefin shares of Finconomy AG and its founding shareholders at the end of 2016. Now, W&W Group took over the remaining outstanding equity stake of 25%.
The transaction is effective immediately. Both parties have agreed to keep the sales price and further transaction details confidential. With this transaction, current CEO of treefin, Reinhard Tahedl, will leave the management board of treefin as of December 31, 2017. Subsequently, he will fully engage in the expansion of Finconomy AG and its ventures.
“We are happy with W&W group as a long-term oriented shareholder for treefin, who believes in the benefits and opportunities of Financial Home solutions that treefin provides. With the transaction of the digital broker we logically implement our strategy with a sole focus on B2B business models. These sales proceeds will strengthen the liquidity base of our company builder and open up further opportunities for the development of technology-based business models.” says Reinhard Tahedl, CEO of Finconomy AG.
About Finconomy AG:
Finconomy AG fundamentally changes how we experience financial services in the future. Finconomy AG is a company builder, rather than just a financial investor. We support our ventures throughout every stage of the growth process. Finconomy AG specializes in the B2B segment, as an ideal partner for insurance companies, banks, independent financial distributors, wealth managers and fintechs. With our ventures we create the leading ecosystem for technology-driven business models.
Treefin develops the application “treefin – my digital financial assistant” for mobile devices and desktops. The digital financial assistant comprises of three pillars: accounts, insurances and investments. It offers its users a clear, fast and comprehensible overview of their current financial situation. Besides classic online banking for all into treefin integrated accounts, treefin offers their users value-added features, such as insurance requirement checks or disclosure of current portfolio risk. Treefin acts from a customer’s perspective and helps to improve the financial situation based on the analysis of account transactions.