Swissquote and PostFinance agreed today that Swissquote will fully acquire the finance app Yuh. It is the right time for all parties to take this step. PostFinance is handing over the reins of the company, which is led by CEO Markus Schwab, because it believes in Yuh’s strength, perseverance and potential, and sees the benefits of having one parent company. With a single partner, Yuh will be able to grow in a more efficient and focused way. Beat Röthlisberger, CEO of PostFinance, says: “At PostFinance, we’re extremely proud to be part of Yuh’s success story. It highlights our role as an innovator in Switzerland. Yuh has become the most popular finance app in Switzerland in record time, which is a fantastic achievement. With Swissquote’s backing, Yuh can continue its expansion strategy.”
PostFinance transfers Yuh to Swissquote
Four years after the launch of the joint venture Yuh, PostFinance has sold its 50 percent participation to Swissquote. This was a mutual decision by Swissquote and PostFinance. It will enable Yuh to continue its expansion strategy in a more efficient and targeted manner. For its part, PostFinance wants to focus on the core elements of its strategy and, in the current challenging market environment, boost the units within its own company that are generating the most impact for its customers.
The next step: sustainable growth
Marc Bürki, CEO of Swissquote, says: “We remain committed to our longstanding, successful partnership with PostFinance. Today’s move enables us to integrate Yuh into our overall service in the most beneficial way.” By acquiring Yuh in full, Swissquote will be able to leverage synergies between the two companies even more effectively and offer a wide range of services for all target and age groups. Yuh CEO Markus Schwab says: “I would like to thank PostFinance for supporting and helping to shape Yuh’s vision right from day one, as this has played a significant role in our success. Full acquisition by Swissquote is the next logical step and will enable us to continue growing.” The transaction places Yuh’s full value at 180 million francs. Swissquote has paid part of the purchase price to PostFinance in the form of treasury shares, increasing PostFinance’s previous 5 percent share in Swissquote.
Strengthening business in the digital sector and expanding services
The sale of Yuh will enable PostFinance to focus even more strongly on its strategy. It is prioritizing its customers’ needs and satisfaction and planning to concentrate on its core business – especially in the current challenging market environment. “Thanks to Yuh, PostFinance has learned a great deal about what customers need when managing all their financial transactions in a single app. Now we want to continue on our own digital banking journey. At PostFinance, our values of security, trust and reliability give us our competitive edge,” says CEO Beat Röthlisberger. PostFinance would like to strengthen its business and expand its products and services in the digital sector. It also aims to meet its customers’ desire for independence and self-determination by offering significantly expanded self-service options.
As one of the four largest banks in Switzerland, PostFinance designs innovative solutions and is a driving force behind digitization in the Swiss financial center. Since 2014, it has been using innovations to simplify money management and create smart digital solutions for a range of target groups. In 2014, PostFinance launched the TWINT payment solution, followed five years later by the digital mortgage platform Valuu. In 2021, PostFinance and Swissquote joined forces to break new ground with the finance app Yuh.