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Schoenherr Advises Fintech Start-Up Credi2 on Investment by Volkswagen Bank

Schoenherr Advises Fintech Start-Up Credi2 on Investment by Volkswagen Bank

Austria
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Schoenherr has advised Credi2 GmbH on the acquisition by Volkswagen Bank of a 20% stake in the company. Volkswagen Bank was reportedly advised by Dorda.

Credi2 is an Austrian fintech company that was founded in Vienna in 2015. According to Schoenherr, "all steps such as customer on-boarding, risk analysis, account management, and dunning processes are managed with one tool and can be adapted to individual customer needs."  

Schoenherr describes Volkswagen Bank as "part of Volkswagen Finanzdienstleistungen, an important branch of Volkswagen AG." According to the firm, "Volkswagen Finanzdienstleistungen employs 16,267 individuals around the world. It has an annual balance of EUR 207.6 billion, an operative result of EUR 2.6 billion and a portfolio of about 20.3 million contracts."

The Schoenherr team was led by Partner Thomas Kulnigg and included Partners Peter Feyl, Markus Piuk, and Bernd Rajal, Attorneys at Law Clemens Gaugusch, Matthias Pressler, and Klaus Cavar, and Associates Maximilian Nutz, Nina Zafoschnig, and Karin Pusch.

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