Swiss mortgage broker Moneypark is taking over a company active in the same industry in French-speaking Switzerland, continuing its expansionary strategy. Moneypark's owner, Helvetia insurance company, financed the acquisition.

Moneypark has agreed to buy DL Conseils en financement immobilier (DL), based in Lausanne, the company said in a statement today.

Moneypark, a fintech that belongs to Helvetia insurance company, didn’t say how much it paid for Lausanne-based DL, which has been active as a business for ten years.

No Job Cuts

The acquisition was in line with the growth strategy defined by Moneypark for the French-speaking part of Switzerland, the company said. DL has five branches in the region, employing a staff of 45, 30 of which being mortgage experts.

Moneypark will assume all the staff and branches and intends to integrate its two branches in the Western region into the DL network. Moneypark owner Helvetia welcomed the acquisition, saying that the two companies complemented each other perfectly. Moneypark is primarily present in German- and Italian-speaking Switzerland, while DL focused on the French-speaking market.

Perfect Fit

«The merger will allow Moneypark to tap into the strategically important market in French-speaking Switzerland in a quick and comprehensive manner. Helvetia welcomes this acquisition and has financed it,» the insurer said in a separate statement.

Moneypark and DL together brokered more than 2 billion Swiss francs worth of mortgages a year.

Double the Volume

«The takeover is an enormous milestone for our customers and for us as a company. In one go, we are doubling the volume of mortgages brokered and customer enquiries each month,» said Stefan Heitmann, CEO of Moneypark.

Moneypark has been operative in Switzerland since the beginning of 2013, brokering mortgages via a technology-based platform. It also helps with pension provisions and advises on ETF-based asset management solutions.

Apart from the online services, Moneypark also advises customers in one of its current 23 branches – and in future in the 28 branches after the completion of the acquisition of DL.