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In a strategic move, Swissquote has fully acquired the finance app Yuh from PostFinance, marking the next step in Yuh's growth journey [1][2]. Previously, Yuh was a joint venture between the two companies, but the new ownership structure gives Swissquote complete control over the app.
The transaction, valued at 180 million Swiss francs, saw part of the purchase price paid to PostFinance in the form of treasury shares, increasing PostFinance's previous 5 percent share in Swissquote [1]. However, this change does not affect the direct ownership of Yuh itself, which is now 100% Swissquote [1][2].
Markus Schwab, CEO of Yuh, expressed gratitude towards PostFinance for their support and role in shaping Yuh's vision. Beat Roethlisberger, CEO of PostFinance, recognised Yuh's rapid popularity in Switzerland as a fantastic achievement [1]. PostFinance, on the other hand, is prioritising its customers' needs and satisfaction, planning to concentrate on its core business [1].
Marc Buhrki, CEO of Swissquote, expects sustainable growth for Yuh with their backing. He believes that with Swissquote's support, Yuh can continue its expansion strategy in a more efficient and targeted manner [1]. The decision to sell was a mutual agreement between Swissquote and PostFinance, with PostFinance handing over the reins of the company to Swissquote because they believe in Yuh's strength, perseverance, and potential [1].
In the current challenging market environment, PostFinance aims to focus even more strongly on its strategy. By selling Yuh, PostFinance hopes to achieve a sharper focus, enabling it to boost the units within its own company that are generating the most impact for its customers [1].
[1] Switzerland, (No Date), Swissquote Takes Full Control of Yuh Finance App, Retrieved from https://www.switzerland.org/news/swissquote-takes-full-control-of-yuh-finance-app/ [2] Switzerland, (No Date), Swissquote buys PostFinance's stake in Yuh, Retrieved from https://www.switzerland.org/news/swissquote-buys-postfinances-stake-in-yuh/
Fintech industry witnessed a significant development as Swissquote fully acquired the finance app Yuh from PostFinance, signifying a critical milestone in Yuh's expansion journey. With this transaction, valued at 180 million Swiss francs, Swissquote has gained complete control over the app, while PostFinance has shifted its focus to prioritizing its core business in finance.
