The SDAX-listed Wüstenrot & Württembergische Group (W&W) acquires 75 percent of the shares in the Munich-based FinTech treefinAccording to dpa-AFX, the purchase price is expected to be in the low single-digit million range.
Munich-based treefin AG has developed a financial assistant that allows users to manage all their insurance policies, accounts, and investments in one app. The application also helps optimize their financial services and connects them with an advisor upon request. treefin is designed as a mobile app, but can also be used via a PC browser. CEO Reinhard Tahedl says:
"Together with my co-founder Andreas Gensch and a first-class team, we set out to finally present finances holistically and improve our financial situation with the help of smart data when we founded the company two years ago. We are pleased to have a new owner on board with W&W, who will enable us to expand our range of services with another significant investment."
Acquisition of treefin as part of the digital strategy
The W&W Group plans to make the digital financial assistant available to its customers this year: The Stuttgart-based company aims to drive digitalization in the financial and insurance sector:
"W&W increasingly sees itself as one of the most innovative and customer-focused financial service providers in the areas of risk protection and home. With the new options for our customers, we underline this claim,"
so Rüdiger Maroldt, Digital Customer Officer at W&W AG.
The purchase price has been kept confidential; according to dpa-AFX, it is expected to be in the low single-digit million range.
A year ago, W&W founded the joint venture W&W Digital together with Munich-based etventure GmbH with the aim of developing digital products.
