Zurich-based Credit Exchange (CredEx), an independent B2B marketplace for Swiss mortgages, announced on Wednesday, August 16, that it has gained two new shareholders – PostFinance and Glarner Kantonalbank.
In addition to existing shareholders Bank Avera, Mobiliar, Swisscom, and Vaudoise Insurance, the recent duo will also have a seat on the Board of Directors.
PostFinance to enhance CredEx’s market presence
PostFinance, a sales and processing collaborator with CredEx since the beginning of this year,
has solidified its partnership with the Swiss mortgage marketplace company. This collaboration empowers PostFinance to enhance the market presence of its mortgages by offering competitive interest rates.
Serkan Mirza, CEO of CredEx, says, “PostFinance, as an agile and innovative company that has taken on a pioneering role in many FinTech topics, is strategically taking CredEx to the next dimension.”
Glarner Kantonalbank, a longstanding partner in processing and mortgage financing, has increased its annual mortgage financing volume on the platform alongside its newfound ownership. This move contributes significantly to the improvement of the breadth and depth of offerings available to CredEx’s end customers.
Andrea Canonica, CXO of CredEx, says, “Over the years, a unique processing ecosystem has been developed together with GLKB, which has made a major contribution to the success of CredEx. With GLKB’s rich experience in the FinTech area, I am convinced that we will also achieve similar milestones together on the financing side.”
To optimise synergy, PostFinance is contributing its Valuu comparison and transaction platform to CredEx.
Accordingly, CredEx will remain true to its traditional B2B business model and intends to bundle the brokerage business under the Valuu brand in the future.
The transition will ensure the continued servicing of lenders acquired through expanded broker channels. For the existing CredEx partners, the financing and sales options for mortgages will be significantly expanded in the course of the transaction.
These partners can increasingly offer white-label mortgages in sales and engage as customary mortgage financiers in premier-price auctions.
In addition to PostFinance and Glarner Kantonalbank, Mobiliar and Vaudoise Versicherungen will also participate in the capital increase.
Stefan Schärer, VR President of CredEx, says “As in top-class sport, it is evident that a combination of ambition, strategy and tactics are crucial for the company’s success. With the new shareholders, the competent members of the Board of Directors and the motivated management, we have the right team to be successful in the Champions League of the mortgage market.”
Credit Exchange: Digital B2B marketplace
Credit Exchange AG is a joint venture between Mobiliar, Vaudoise, PostFinance, Swisscom, Bank Avera, and Glarner Kantonalbank.
With over CHF 2.5B issued and managed mortgages, CredEx is the leading digital B2B marketplace platform in Switzerland.
The company works with customers that include well-known insurance companies, pension funds, and (digital) brokers.
Read the orginal article: https://siliconcanals.com/news/credit-exchange-expands-shareholder/