Less than four years after its launch, Yuh has reached profitability.
The Swiss finance app, a joint venture between PostFinance, a state-owned retail bank based in Bern, and Swissquote, an online banking and trading group based in Gland, now has over 300,000 users and manages customer assets totalling 3 billion CHF.
As of December 2024, Yuh reported its first profit of 1,700,000 CHF.
Compared to the previous year, the number of accounts grew by 48%, while customer assets doubled.
Markus Schwab, CEO of Yuh, stated:
“We originally planned to break even by 2025 – a sign that a well-thought-out strategy, decisive action, and an unwavering focus on our customers can achieve great things. However, this success is not an excuse to rest on our laurels but rather an incentive to continue growing, challenge traditional banking, and inspire more people with constant innovation.”
Beat Röthlisberger, CEO of PostFinance, commented:
“At PostFinance, we are proud to be part of Yuh’s success. Becoming the most popular finance app in Switzerland in record time is a significant achievement. We look forward to Yuh’s future developments.”
Featured image credit: edited from freepik
