In February 2021, PCP IV provided a multi-year loan facility over EUR 50 million to smava GmbH. smava is a Berlin based online price comparison site for German consumer credits, co-founded by the CEO Alexander Artopé in 2007, so far having enabled more than 500,000 consumers to take out loans.
The money was used to finance smava’s acquisition of the Hamburg based competitor, Finanzcheck. The acquisition creates the leading consumer loans platform in Germany, with a combined brokered loan volume of well over 4 billion euros in 2020.
We find Smava and Finanzcheck to be well positioned to benefit from the German consumer credit market’s increasingly faster shift to online and are looking forward working with the management team and owners over the coming years.