|Zelig Associates is pleased to announce that it acted as exclusive financial adviser to Fidor Group, the digital challenger bank headquartered in Germany, on its sale to Group BPCE, the second-largest banking group in France with 35 million customers.|
Fidor was founded in 2009 and is composed of Fidor Bank AG, the challenger bank with 125,000 customers and 350,000 community users in the UK and Germany, and Fidor AG, the provider of white-label digital banking technology.
Matthias Kröner, CEO and founder of Fidor, commented: “This move will allow Fidor to continue its international expansion and drive the development of our innovative digital technology even further… We are excited to have such a well-established partner as BPCE in the financial world that recognises the need for an entrepreneurial approach to banking and innovation.”
This is a landmark transaction in the neo-banking space in Europe, and underlines Zelig’s expertise in the sector.
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