Aduno Group acquires majority interest in Contovista

Media release

Aduno Group acquires majority interest in Contovista

Aduno Group is expanding its stake in Swiss fintech start-up Contovista AG, Switzerland's leading provider of personal finance management (PFM) solutions. The existing interest will be increased to 70 per cent with effect from the beginning of August 2017. The current management team will retain ownership of the remaining shares and will continue to be responsible for the company's operations.

Zurich, 3 August 2017 - The Aduno Group, Swiss specialist in cashless payments, is acquiring a majority stake in Contovista. Following the successful launch of the PFM solution in 2015 and the acquisition of a stake of 14 per cent in the same year, Aduno Group is now increasing its stake in Contovista to a majority holding of 70 per cent. The founding shareholders will continue to hold 30 per cent of Contovista and will remain responsible for its operating activities. The parties have agreed to keep the purchase price confidential. Martin Huldi, CEO of Aduno Group: "Digitisation is now a permanent feature of the financial industry as a whole and is becoming more and more significant. We are continuing to develop our business model with innovative products and services and aim to adopt a pioneering role. Together with strong partners such as Contovista, we are creating real added value for our partner banks and clients. We enjoy an outstanding and fruitful working relationship with Contovista and look forward to expanding our partnership." With its data analytics, Contovista offers intelligent solutions that can be fully integrated into existing e-banking services and related mobile systems, thus ensuring a seamless client experience.

Company will continue to be run as a start-up

Swiss fintech start-up Contovista AG specialises in evaluating and visualising financial data. The company, which was founded in 2013, develops technologies and algorithms to analyse large and unstructured data volumes. This enables Contovista to offer the financial industry extensive options in the fields of personal finance management, business finance management and data analytics. Financial institutions can simply integrate the solutions offered by Contovista into their existing banking applications, allowing them to offer innovative products and services on a cross-channel basis. As a fintech start-up that has established itself as a specialist in data-driven banking in Switzerland, with 18 banks as clients, Contovista has already activated its solution at seven well-known Swiss banks, with others being added on a continuous basis. Contovista has also succeeded in acquiring its first clients abroad.

Gian Reto à Porta, co-founder and CEO of Contovista AG: "We are delighted to be intensifying our existing close working relationship with Aduno Group. In the Aduno Group, we have a partner that is not only familiar with the dynamic environment of a software company, but which can also navigate the complexity of the banking industry. As a start-up, we can continue to leverage our agility and innovative approach on the market and therefore quickly adapt our products to new client requirements."

Martin Huldi, CEO of Aduno Group, will now become Chairman of the Board of Directors at Contovista, while Daniel Anders, Chief Operations Officer, will also take up a seat on Contovista's Board of Directors. Roland Zwyssig, Chief Marketing Officer at Aduno Group, has been a member of the Board of Directors at Contovista since 2016. The company founders Gian Reto à Porta and Nicolas Cepeda will stay on as Board members.

Business angels selling their stakes

The angel investors Dr Thomas Dübendorfer, Luzius Meisser and Myke Näf are selling their stakes to Aduno Group. Thomas Dübendorfer, president of the Swiss ICT Investor Club, is delighted with this landmark transaction: "The establishment and sale of the Swiss start-up Contovista within just four years gives a boost to banks' ability to innovate. But it also proves that angel investors, by providing risk capital and contributing their networks and experience, can play a key role in helping start-ups achieve success quickly. In order for the start-up investor ecosystem in Switzerland to grow more rapidly, we need more people who are prepared to act as angel investors by helping highly motivated businesses that add value on a sustained basis, while in turn offering these investors attractive exit opportunities."

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