With Swissbilling, Cembra is already heavily involved in the “buy now, pay later” area. Other companies with billing purchasing solutions have now been taken over.
Cembra Bank, which specializes in consumer credit, has completed the acquisition of the Swiss companies Byjuno and Intrum Finance Services. The works are now fully consolidated, as in a Message from Tuesday Call.
Cembra had already announced the purchase of 100% of Byjuno and its sister company Intrum Finance Services at the end of September. The plan is to merge Byjuno with subsidiary Swissbilling. This aims to create a “leading provider of billing purchasing solutions” and create attractive offers for online and offline purchases in Switzerland.
According to previous information, Cembra will pay 60 million Swiss francs to the company. The acquisition is seen as another step in expanding embedded financing products and the “buy now pay later” business.
Cooperation with 1200 stores
Byjuno and Intrum Finance Services will continue to offer approximately 1,200 merchants in Switzerland, and customers will benefit from a wider range of products and services. Cembra and seller Intrum AG have also agreed to cooperate for debt collection and credit information in the area of BNPL.
The CEO of the combined company will be the current chairman of Byjuno Christian Stolz. Jean Christophe Kalmesthe current CEO of Swissbilling, will take over as Executive Vice President.
The bank has ambitious plans for this sector. From 2023, the acquisition must contribute positively to the net result and an additional net profit of at least CHF 6 million per year must be generated. The merger costs are estimated by the end of 2023 to be between 4 and 5 million Swiss francs.
By 2026 at the latest, Cembra wants to achieve between CHF 10 and 20 million in net profit in the business with its buy-on-account solutions.
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