Intrum enters an agreement with Cembra Money Bank in Switzerland
Intrum has entered an agreement with Cembra Money Bank AG under which Cembra will acquire Intrum’s wholly owned subsidiary Byjuno and its sister company Intrum Finance Services AG. As part of the agreement, Cembra and Intrum also agreed on entering a BNPL debt collection activities and credit information partnership. The transaction is expected to close before the end of this year.
Byjuno was founded by Intrum AG in 2014 and is one of Switzerland’s largest providers of buy now, pay later (BNPL) solutions. The agreement means that Cembra will acquire Byjuno and its sister company Intrum Finance Services from Intrum AG to combine them with Cembra’s subsidiary Swissbilling, establishing a leading platform for BNPL solutions in Switzerland, as a further step in building its BNPL business.
“We look forward to following Byjuno’s accelerated growth under Cembra’s management. This transaction will enable Intrum to focus on and grow our core business in Switzerland, debt collection and credit information services. At the same time, Byjuno’s existing and new clients and customers will be provided an enhanced product offering”, said Per Christofferson, Managing Director Secured Assets, M&A and Markets.
Christian Stolz, the current CEO of Byjuno, will continue as CEO of the combined business.
The purchase price for Byjuno and Intrum Finance Services amounts to CHF 60 million. In addition, all asset financing, currently circa CHF 18 million, will be repaid to Intrum as part of the transaction.
Closing of the transaction is expected in the fourth quarter of 2022.
For further information, please contact:
Karin Franck, Global Media Relations Director
+46 70 978 72 74
karin.franck@intrum.com
Intrum is the industry-leading provider of credit management services across 24 markets in Europe. By helping companies to get paid and support people with their late payments, Intrum leads the way to a sound economy and plays a critical role in society at large. Intrum has circa 10,000 dedicated professionals who serve around 80,000 companies across Europe. In 2021, revenues amounted to SEK 17.8 billion. Intrum is headquartered in Stockholm, Sweden and publicly listed on the Nasdaq Stockholm exchange. For further information, please visit www.intrum.com.
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