Overview of the transaction
Bonify, a provider of credit scoring and financial health tools leveraging Open Banking technology, has announced its sale to SCHUFA.
SCHUFA is a German credit bureau providing its clients with credit scores on German consumers.
The acquisition will allow Schufa to improve the quality of the services it offers to consumers and accelerate its ability to develop digital products and apps.
In May-22, Bonify and SCHUFA announced a distribution partnership under which Bonify would offer SCHUFA consumer products on its platform - starting with SCHUFA’s “BonitätsCheck” product.
Overview of Bonify
Founded in 2015 and headquartered in Berlin, Bonify offers users a comprehensive overview of their financial wellness and creditworthiness as well as access to consumer loan products in line with their credit scores. Leveraging Open Banking data, the company's platform evaluates a user’s creditworthiness in real-time and provides tools to analyse and optimise their financial situation.
Bonify is AIS-licensed by BaFin and serves 1m+ users, having collected 200m+ Open Banking data points to date.
Royal Park Partners’ role
Royal Park Partners acted as exclusive financial and strategic advisor to Bonify and its shareholders. This transaction highlights Royal Park Partners’ experience and expertise in the Open Banking and Personal Finance spaces.
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