Scout24 (Frankfurt Stock Exchange – ISIN: DE000A12DM80, G24), an operator of digital marketplaces specializing in the real estate and automotive sectors in Germany and other selected European countries, is to acquire FFG Finanzcheck Finanzportale GmbH, a Hamburg, Germany-based online comparison portal for consumer loans.
The transaction, whose closing is subject to anti-trust approval and is expected within four to six weeks, is based on a consideration of €285m. The sellers were Acton Capital Partners, btov Partners, Highland Europe, HarbourVest Partners, Moritz Thiele, the company’s Founder and CEO, and others.
The Scout24 Group is financing the acquisition through a credit facility.
Led by Moritz Thiele, CEO and founder, and Andreas Kupke, Managing Director & COO, Finanzcheck.de operates an online consumer finance platform, providing consumers with real-time and efficient comparison of consumer loans. In addition, the company cooperates with affiliate websites, point-of-sale finance and partner networks in Germany through its proprietary consumer financing technology platform.
Using an online query, credit offers and loan-related products from all important providers on the market can be compared within a few minutes. For enquiries on instalment, car and rescheduling loans, loan advisors are available upon request in addition to online enquiries – free of charge.
Through this acquisition, Scout24 will team up will with Finanzcheck.de to help users to save time and money in finding the right consumer loan for them amd provides banks and finance institutions with a scalable way to offer their services to loan seekers.
FINANZCHECK.de has more than €35m in revenues in financial year ending December 2017.
Since its IPO in October 2015, Scout24 has already acquired and integrated several other businesses such as AutoTrader B.V. in the Netherlands and Gebrauchtwagen.at in Austria.