TX Group has decided to sell its stake in MoneyPark
TX Ventures, the fintech-focused venture arm of TX Group, has conducted its investment into MoneyPark, one of Switzerland's leading fintechs, in 2014. After a partial sale to Helvetia Group was realized in 2016, the international insurance company also acquired the remaining shares from TX Group. As part of the sale, Jens Schleuniger, Investment Director at TX Ventures, is leaving the MoneyPark Board of Directors.
Jens Schleuniger, Investment Director at TX Ventures: "MoneyPark has developed excellently under the leadership of CEO and Founder Stefan Heitmann. With well over CHF 3 billion in mortgage volume brokered annually, MoneyPark has become the clear market leader in this area and has successfully expanded its product offering into real estate services and insurance advisory in recent years."
The management of TX Group is also pleased about the successful transaction. Daniel Mönch, Chief Strategy Officer TX Group: "We are very pleased with the growth of MoneyPark and see at this point a good time for the sale. The company has grown from a start-up to a leading fintech and is taking a further step in its development with the change in leadership communicated today. We wish the MoneyPark team and Helvetia continued success."
The parties have agreed not to disclose details of the sale.