In the struggle to get involved with the Schufa, the Swedish financial investor EQT is taking a step towards savings banks and cooperative banks. "It's essentially about activating the unused innovation and growth potential of Schufa and accelerating it with additional capital and know-how," said EQT partner Matthias Wittkowski of the "Börsen-Zeitung" (Friday edition). "That's why we (...) would also get involved as a significant minority shareholder." EQT has secured a ten percent stake in the Wiesbaden credit agency from the major French bank Societe Generale and registered a complete takeover with the cartel office.
However, savings banks and cooperative banks have a right of first refusal for shares in Schufa that are up for sale.They insist on the neutrality of Schufa, which supplies retailers and banks in Germany with data on the creditworthiness of customers and business partners.
According to insiders, it is valued at around two billion euros.
The cooperative TeamBank (easyCredit) has announced plans to increase its stake from just under 18 percent.
Lots of room for improvement
The financial investor wants to develop Schufa further, Wittkowski told the newspaper: "Over the past two years, EQT has developed a very comprehensive future concept that strengthens consumer protection and is intended to further develop Schufa as an independent data trustee." received a "consistently positive response". When it comes to innovation, growth and consumer protection, there is "a lot of room for improvement," said the EQT partner. Schufa, founded in Berlin in 1927 as a "protection group for sales financing", has data on the payment behavior and credit obligations of 68 million citizens.
Wittkowski said the financial investor was willing to provide a three-digit million amount to accelerate Schufa's growth.
In addition, future profits should no longer be distributed to shareholders as dividends.