Compass, the consumer credit arm of the Mediobanca Group, has acquired HeidiPay Switzerland AG, a Swiss Buy Now Pay Later (BNPL) startup. This acquisition allows Compass to enter the Swiss market and strengthens its partnership with HeidiPay AG, a fintech company specializing in BNPL platforms.
Facts
- Compass, the consumer credit arm of the Mediobanca Group, has acquired HeidiPay Switzerland AG.
- HeidiPay Switzerland AG is a fast-growing Swiss company focused on the Buy Now Pay Later (BNPL) segment.
- HeidiPay Switzerland AG has over 400 commercial agreements with major distributors, luxury brands, and technology operators in Switzerland.
- The acquisition allows Compass to become a consumer credit operator in the Swiss market.
- Compass already holds a 19.5% stake in HeidiPay AG, the holding company of HeidiPay Switzerland AG.
- The deal aligns with Mediobanca’s “One Brand One Culture” 2023-26 Strategic Plan, aiming to enhance the Consumer Finance Division’s distribution structure and expand into new geographical markets.
- Alberto Nagel, CEO of Mediobanca, highlighted the industrial rationale of the deal and its alignment with their strategic plan, emphasizing the benefits of geographical diversification and cutting-edge digital platforms for credit granting.
