- With their product Eqipia, the Buddy Broker AG developed the leading intelligent and automated employee referral program in Switzerland.
The company was founded in 2013 by Flurin Müller and Patrick Mollet.
In Switzerland the customer base included companies such as Swisscom, SBB, Migros, KPMG, BKW and Swisslife.
- Today, Eqipia is part of the XING Referral Manager which digitizes and automates the application process for large corporations.
Initial situation
In the fall of 2015, the Buddy Broker AG was looking for a partner to finance the further growth of the company.
The former founders needed a strategic and goal-oriented partner to further develop the Eqipia product to continue market penetration.
Our contribution
At the end of 2015, Wineus Capital secured the Buddy Broker AG a short-term liquidity through a convertible loan.
In spring 2016, just before Wineus Capital implemented the financing round, the founders received a surprisingly good takeover offer from XING AG. The offer consisted of a cash- and an earn-out part.
- Wineus Capital was able to transfer the convertible loans of the represented investors into shares and accompanied the entire M&A process as a member of the deal team.
Conclusion
From an equity perspective, this was the shortest holding period of an investment by Wineus Capital which however had a positive effect on the rate of return.
- The investment case also exemplifies how Wineus Capital adapted to changes and supported the founders in their intentions.
