The finance app Yuh has officially transitioned into the hands of a single owner following the acquisition of Postfinance’s 50 percent stake by Swissquote. This move, four years post-launch of the joint venture, is seen as a strategic step to enhance Yuh’s growth potential and focus.
With this change, Yuh is poised to implement its expansion plans with greater agility. In turn, Postfinance will redirect its resources toward its fundamental objectives, concentrating on areas that promise the most substantial impact for its customers during a challenging market climate.
Celebrating Success and Future Growth
Beat Röthlisberger, CEO of Postfinance, expressed pride in their role in Yuh’s journey, stating, “We are extremely proud to have been part of Yuh’s success story. It underscores our role as an innovator in Switzerland.” Yuh has swiftly emerged as the country’s most popular finance app, a feat that showcases the power of digital finance in today’s landscape.
Swissquote’s CEO Marc Bürki noted, “We continue to stand by our long-standing, successful partnership with Postfinance. Today’s move allows us to fully integrate Yuh into our overall offering.” This full ownership enables Swissquote to better exploit synergies between the two entities and broaden its service lineup for customers across various demographics.
Growth Valued at CHF 180 Million
Yuh’s valuation in this transaction stands at an impressive 180 million francs. Swissquote has opted to pay part of this price through treasury shares, leading to an increase in Postfinance’s previously held 5 percent stake in Swissquote, marking a new chapter in their collaborative history.
Despite divesting from Yuh, Postfinance remains committed to bolstering its digital services. Röthlisberger reaffirmed the bank’s intention to carve its own path within the digital banking landscape, signaling continued investment in innovation.
As of June 30, Yuh boasted 342,369 customer accounts, holding a total of 3.2 billion francs in assets. With the acquisition, Swissquote surpasses the impressive milestone of one million customer accounts, now totaling 1,050,762—a testament to its successful expansion strategy.
Questions & Answers
What prompted Swissquote’s acquisition of Yuh from Postfinance?
The acquisition is aimed at enhancing Yuh’s growth efficiency and allowing for greater focus under a single ownership structure, after four years of operating as a joint venture.
How does this acquisition impact Postfinance’s digital strategy?
Postfinance plans to sharpen its focus on its core business areas, continuing to strengthen its digital offerings and services, despite selling its stake in Yuh.
What are Yuh’s performance metrics following the acquisition?
As of June 30, Yuh reported 342,369 customer accounts with assets totaling 3.2 billion francs, contributing to Swissquote’s overall customer base exceeding one million accounts.