The Swiss bank is investing in a real estate start-up – its first venture investment in a digitization and ecosystem push.
Zurich-based UBS is taking a stake in Houzy, a Swiss digital platform for homeowners, it said in a statement on Friday. The move is a bid to expand the reach of Key 4, a mortgage platform it launched last month.
Neither party disclosed financial details of the deal. The three-year-old start-up operates an online platform that links data and generates recommendations for homeowners, such as when to undertake home improvements and how best to finance them. It has more than 15,000 registered users in Switzerland.
For Houzy, «This will help us in the next step of Houzy’s expansion phase by providing our users and key4 clients with centralized information and tools on topics such as renovation needs, price development, costs, and much more,» CEO Stefan Schaerer said.
