Bank Frick Acquires Majority in the Fintech Group 21.finance AGby Fintechnews Switzerland July 4, 2019
Following a capital increase at 21.finance AG, Bank Frick now holds a majority in the Liechtenstein-based fintech company of 50.14 % of the share capital.
Founders Max J. Heinzle and Udo Oksakowski hold just under 30 per cent of the shares. The remaining shares are in free float.
Bank Frick already acquired a stake (25%) in 21.finance AG in September 2018, buying just over 25 per cent of the Liechtenstein fintech company’s shares.
21.finance AG digitises and automates processes on the area2Invest investment platform in compliance with all legal and regulatory requirements.
Open for discussions with new partners
“We believe there is enormous potential for financial institutions, issuers and other financial product promoters to make their products accessible to various investor groups on area2Invest on a fully digitised, cross-border basis”,
says Raphael Haldner, Head of Fund and Capital Markets at Bank Frick and a member of the Board of Directors of 21.finance AG. “The Bank currently holds a majority in 21.finance”, he adds.
“However, both Bank Frick and 21.finance AG are open for discussions with other potential strong partners.”
On the area2Invest investment platform, issuers can present and offer interested investors their structured financing proposals on a public or private basis (public or private placements, respectively).