With its product Eqipia, Buddy Broker AG has developed the leading intelligent and automated employee referral program in Switzerland.
The company was founded in 2013 by Flurin Müller and Patrick Mollet.
The customer base in Switzerland includes 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 companies.
Starting point
In the fall of 2015, Buddy Broker AG was looking for a partner to finance the company's further growth.
The former founders needed a strategic and goal-oriented partner who could quickly develop the Eqipia product in order to penetrate the market at a higher rate.
Our value-add
At the end of 2015, Wineus Capital made it possible to secure Buddy Broker AG's short-term liquidity with a convertible loan.
In spring 2016, shortly before the implementation of the financing round by Wineus Capital, the founders received a surprisingly good takeover offer from XING AG. The offer consisted of a cash and an earn-out component.
Wineus Capital was able to convert 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 a Wineus Capital investment to date, which nevertheless had a positive effect on the return.
The investment case also exemplifies how Wineus Capital adapted flexibly to the change of plan and followed the founders' intentions.
