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The successful Berner Mobiliar Insurance is making a significant change in direction by stepping back from its fintech ventures. It has recently sold the real estate portal Flatfox to the Swiss Marketplace Group, in which it holds a minority stake. The media companies Ringier and Tx, along with a US private equity firm, are now in control, with the goal of taking the company public.
This sale of Flatfox is just the beginning, as the leaders of “Mobi” plan to overhaul their entire strategy of acquiring digital startups. Instead of focusing on unprofitable fintech companies, the Mobiliar is reportedly considering a close partnership with Valiant. Valiant, like Mobi, has a strong presence in the central region of Switzerland, but is also expanding around Zurich following Credit Suisse’s exit.
The partnership between Mobiliar and Raiffeisen serves as a model for this collaboration. Mobiliar gained a foothold with Raiffeisen after the Swiss bank separated from Helvetia, the country’s third-largest insurer.
A spokesperson for Mobiliar stated on Friday that they regularly review their investments and may exit fintech partnerships. They emphasized that their digital platforms are used to strengthen their insurance and retirement business. Regarding potential negotiations with Valiant, the spokesperson stated that they constantly explore opportunities for collaboration with other market participants, but do not comment on rumors.
A spokesperson for Valiant expressed openness to considering interesting partnerships but declined to comment on rumors.