News in the FinTech industry: The Munich Fidor Group is being acquired by France's second-largest banking group, BPCE. However, the shareholders' agreement stipulates that the Fidor Group will continue to operate independently in the future.
“We are now finally completing the startup phase and transforming into a growth company.”
Matthias Kröner, CEO and shareholder of the Fidor Group, commented on the acquisition with these words. He and his colleagues have committed to helping shape the company's future for at least the next five years.
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As he further explains, the acquisition will not impact Fidor customers' daily lives, nor will it change anything in terms of service or technology. Rather, with BPCE, a strong partner is on board that can ensure greater sustainability:
"Thanks to Groupe BPCE, we now have a partner that is among the top 10 banks in Europe. All of this takes the Fidor Group to a whole new level."
The Munich-based direct bank now plans to further intensively pursue its national market penetration, international expansion and technological development, and to expand its own product range with innovative innovations.
A milestone on the path to digital transformation
The French partners are also pleased with the current development. François Pérol, CEO of BPCE, commented:
"This acquisition is a milestone on our journey to accelerate the digital transformation of our group. It demonstrates our commitment to developing a customer-centric approach through technological innovations and to becoming more involved in digital and mobile banking. We are proud and happy to welcome the Fidor team, its community, and its customers into our midst."
