April 7, 2021
Technology, Digital Media and Media
GCA Altium advises Flatfox on its sale to Mobiliar
GCA Altium acted as exclusive financial advisor to the shareholders of Flatfox, a leading Swiss property platform, on its sale to Mobiliar, Switzerland’s leading insurance company.
Flatfox is based in Zurich, Switzerland, and operates a free property marketplace whilst also offering smart tools for the digital rental process for both landlords and business customers. One advantage of their service is that companies can connect their management applications with the most-used online property listings in Switzerland. Another is that Flatfox can handle all types of interaction with tenants over a single platform, leading to increased efficiency and better agility in the rental process and, as a consequence, shorter vacancy periods.
The acquisition of Flatfox marks an important step forward for the development of Mobiliar’s ‘living and the home’ ecosystem. The other pillars in this ecosystem include the marketplaces operated by Scout24 Schweiz AG (the joint venture between Ringier and Mobiliar), buildigo (a B2C home-improvement platform) and aroov (a rental management platform).
“With Mobiliar as our core partner and working together with aroov, we can combine our talents to expand our market and develop new products as we seek to exploit the full potential of the digital tenancy market,” said Bernhard Mäder, CEO of Flatfox.
“Flatfox offers an attractive range of features, a solid customer base and a highly motivated founding team, which will be staying with us,” said Andrea Kleiner, COO of Mobiliar. “Cooperation between aroov and Flatfox will yield attractive services for personal customers plus a full range of solutions for property professionals, enabling them to pitch the right offer to prospective tenants at the right time.”
The four founders – Bernhard Mäder, Mattia Regi, Silvan Spross and Fabian Stutz – and their entire team will continue working for Flatfox once the acquisition is finalised. Both parties have agreed not to disclose the purchase price.