Baloise buys moving platform MOVU
Baloise buys the digital relocation platform MOVU. The entry into this business segment makes it possible to supplement the classic insurance business with new services, the insurer says.
MOVU AG is a Swiss start-up founded in 2014 by Laurent Decrue, Nenad Nikolic and Nicolas Bürer in Zurich. Within a very short time, it has become what it claims is the largest relocation platform in Switzerland. The core of the business model is to organize a comfortable and safe move for the customer. The customer receives offers from verified companies, can select a suitable offer and book it directly via the platform. The customer is advised by the company's independent experts.
As part of the acquisition, MOVU will also receive growth financing and will expand into other service areas related to home & living in the coming months. The company will remain independent, but at the same time Baloise is investing in the collaboration to jointly develop solutions and accelerate the growth of both companies.
"I am very pleased that we can announce another milestone in Baloise's new strategy with the acquisition of MOVU in the current fiscal year," says Michael Müller, CEO of Basler Versicherung Schweiz. Baloise had announced at the Investor Day at the end of 2016 that it wanted to complement the traditional insurance business with new initiatives and align services with customer benefits. With the purchase, the company is not only investing in the largest relocation platform in Switzerland, but is also acquiring know-how for the platform business that MOVU has built up, Müller added.
The transaction will be completed in the next few weeks, subject to regulatory approval. The MOVU brand will remain on the market. The parties have agreed not to disclose the purchase price.
