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Hypoport SE: TeamBank and Hypoport to collaborate on personal loans

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DGAP-News: Hypoport SE / Key word(s): Joint Venture/Product Launch
29.06.2021 / 07:25
The issuer is solely responsible for the content of this announcement.

Establishment of joint venture


TeamBank and Hypoport to collaborate on personal loans
 

- Establishment of a joint venture to increase efficiency of personal loans sales at cooperative banks

- TeamBank, the cooperative financial network's personal loans expert, will provide the sales network and its product expertise

- Hypoport will supply the platform technology

- Pilot phase with first cooperative banks due to start at latest by the fourth quarter of 2021


Berlin, 29 June 2021: Hypoport SE and TeamBank AG are to cooperate on personal loans for consumers through a joint venture in future. Each company will play to its particular strengths in the joint venture GENOFLEX. TeamBank has contractual relationships with 90 per cent of all cooperative banks in Germany, giving it a broad sales network. Hypoport will be contributing its experience in the platform business. The establishment of the joint venture, in which Hypoport will hold 30 per cent and TeamBank 70 per cent, is still subject to approval from the authorities.

The joint venture will enable participating cooperative banks to offer alternative products to their customers if no suitable easyCredit product is available. These alternative products may be from other cooperative banks or from financial institutions outside the cooperative banking sector. The pilot phase is starting with the first cooperative banks at latest by the fourth quarter of 2021 and is likely to continue until mid-2022.

Christian Polenz, Chief Customer Officer at TeamBank, says: "We are delighted that the joint venture with Hypoport will enable us to collaborate with our partner banks in the cooperative financial network even more effectively in future. Within the scope of our holistic approach to liquidity management, we are thus creating additional options for the cooperative banks' customers and providing them with an extremely attractive advisory experience at local level. At the same time, our partner banks can be sure of having valuable sales exposure. It is a real win-win situation."

Jens Fehlhauer, general representative of Hypoport SE with responsibility for the cooperative banking sector, adds: "I am delighted that, through GENOFLEX, we have taken another step in fulfilling customer needs for the cooperative financial network. I would like to say a special thank you to the entire project team. Designing such a platform completely remotely and getting it ready for the pilot stage in such a short space of time represents a fantastic and unique achievement by everyone involved."


About Hypoport SE

Hypoport SE is headquartered in Lübeck (Germany) and is the parent company of the Hypoport Group. The Group is a network of technology companies for the credit, real-estate and insurance industries with a workforce of more than 2,200 employees. It is grouped into four segments: Credit Platform, Private Clients, Real Estate Platform and Insurance Platform.

The Credit Platform segment operates Europace, which is an online B2B financial marketplace and the largest German platform offering mortgages, building finance products and personal loans. A fully integrated system links more than 750 partners - banks, insurers and financial product distributors. Several thousand loan brokerage advisors execute more than 35,000 transactions per month on Europace, generating a volume of more than €8 billion. Besides Europace, the FINMAS and GENOPACE sub-marketplaces and the B2B distribution companies Qualitypool and Starpool support the growth of the credit platform. REM CAPITAL AG provides specialist advice on the arrangement of complex public-sector development loans for companies and financing for SMEs in Germany. At fundingport GmbH a corporate finance marketplace is being established.

The Private Clients segment, made up of the web-based, non-captive financial product distributor Dr. Klein Privatkunden and the consumer comparison portal Vergleich.de, brings together all business models aimed at directly advising consumers on mortgages, insurance or pension products.

All real estate-related activities of the Hypoport Group, with the exception of mortgage finance, are grouped together in the Real Estate Platform segment (previously Institutional Clients) with the aim of digitalising the sale, valuation, financing and management of properties.

The Insurance Platform segment operates SMART INSUR, a web-based B2B platform for advice, comparison of tariffs and the administration of insurance policies. The segment also incorporates the insurance unit of Qualitypool, a B2B distribution company as well as ePension, a digital platform for the administration of occupational pension schemes.

The shares of Hypoport SE are listed in the Prime Standard segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX since 2015.


Contact

Jan H. Pahl
Investor Relations Manager / IRO

Phone: +49 (0)30 / 42086 - 1942
Mobile: +49 (0)176 / 965 125 19
Email: ir@hypoport.de

Hypoport SE
Heidestr. 8
10557 Berlin

www.hypoport.com


Key data on Hypoport's shares

ISIN DE 0005493365
WKN 549336
Stock exchanges symbol HYQ


29.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Hypoport SE

Heidestraße 8

10557 Berlin

Germany

Phone:

+4930420861942

Fax:

+49/30 42086-1999

E-mail:

ir@hypoport.de

Internet:

www.hypoport.de

ISIN:

DE0005493365

WKN:

549336

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1212877


 

End of News

DGAP News Service

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