Hypoport SE and TeamBank AG are to cooperate on personal loans for consumers through a joint venture in future. Each company will play to its particular strengths in the joint venture GENOFLEX. TeamBank has contractual relationships with 90% of all cooperative banks in Germany, giving it a broad sales network. Hypoport will be contributing its experience in the platform business. The establishment of the joint venture, in which Hypoport will hold 30% and TeamBank 70%, is still subject to approval from the authorities. The joint venture will enable participating cooperative banks to offer alternative products to their customers if no suitable easyCredit product is available. These alternative products may be from other cooperative banks or from financial institutions outside the cooperative banking sector. The pilot phase is starting with the first cooperative banks at latest by the fourth quarter of 2021 and is likely to continue until mid-2022.