Hypoport announces a collaboration with the Düsseldorf bank IKB in the area of corporate finance. “As part of the cooperation, IKB wants to open up a new sales channel and offer a significant volume of additional corporate financing via the fundingport platform,” Hypoport announced on Wednesday. In addition, “IKB wants to contribute its credit process and funding expertise to the cooperation,” the company said in a press release.
As part of the agreed collaboration, IKB will acquire a 30 percent stake in the Hypoport subsidiary Fundingport. However, the relevant regulatory authorities still have to approve the deal. “Our participation in fundingport opens up the possibility of bundling the core competencies of both houses in the growing platform business for corporate customer financing. This cooperation with the Hypoport Group as a renowned technology network is an essential element of our digitization strategy ”, says Patrick Trutwein, responsible for operations and transformation projects at IKB.
Hypoport does not provide any details on the financial details of the agreements. It had been agreed not to disclose.
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