Switcho's Exit, 80% acquisition by Mavriq

Switcho, one of the most profitable campaigns on Mamacrowd in 2021, with over €1.9mln raised, has been acquired by leading online comparison and brokerage group Mavriq. Let's get to know in detail the players in this exit and the prospects for the future of the innovative startup.

Who is Switcho?

Switcho is an Italian comparison platform, founded in 2019, that helps consumers save money on electricity, gas, telephone, and insurance utilities. Its main feature is a fully digital business model. The platform analyzes customers' bills and takes care of the bureaucracy for switching providers, ensuring a stress-free process for the end user. Thanks to important partnerships with 9 of Italy's leading banks and more than 200 fintech companies and real estate agencies, Switcho has grown steadily over the years, making it attractive for possible acquisition as well.

Mamacrowd and the equity crowdfunding campaign

In 2021, Switcho raised more than €1.9mln on Mamacrowd, which also saw the participation of Azimut Libera Impresa with the ALIcrowd I sub-fund. This round played a crucial role in Switcho's accelerated growth, enabling it to strengthen its offerings and expand its market.

The Acquisition of Switcho by Mavriq

Mavriq, the new brand of Moltiply Group (formerly MutuiOnline Group), has acquired 80 percent of Switcho. This transaction is in line with Mavriq's strategy to strengthen its presence in the Italian energy and telecommunications contract distribution market. Marco Pescarmona, president of Mavriq and Moltiply Group, said the acquisition will enable the company to achieve new goals thanks to the complementarity of Switcho's activities with those of the group.

Founder and partners

Marco Tricarico, Redi Vyshka and Francesco Laffi, founders of Switcho, will remain in the company while retaining 20 percent of the shares, with plans to continue to lead the company in its next phase of growth.They expressed enthusiasm and satisfaction with this the deal, stressing how Mavriq brings added value and further growth opportunities to Switcho.

Gabriele Blei, CEO of Azimut Holding, and Guido Bocchio, Head of Venture Capital Azimut Libera Impresa, expressed pride in seeing the evolution of Switcho, highlighting how this exit represents a significant turning point for the Italian startup. Joining Mavriq will allow Switcho to make the most of the group's expertise and resources, further accelerating growth and innovation.

Future Prospects

Mavriq's acquisition of Switcho represents a success story not only for the startup itself, but also for Mamacrowd and all investors. This milestone demonstrates how equity crowdfunding can be a powerful growth tool for Italian companies.

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