The digital contract assistant from Berlin integrates Abolalarm and thus becomes the market leader for contract cancellations in German-speaking countries!
Berlin, December 19, 2022 – The digital cancellation service Volders has acquired 100 percent of the shares in its competitor Aboalarm from the comparison portal Verivox. The merger creates a new German market leader in the area of contract management and cancellations with diverse organic and inorganic growth opportunities.
The two companies Volders and Abolarm, founded in 2014 and 2008 respectively, are currently leading online platforms for contract management and cancellation. Both companies are represented in Germany, Austria and Switzerland and offer consumers multiple award-winning cancellation services for contracts in areas such as internet, mobile, insurance, or streaming. Together, the two fintechs have successfully processed terminations for over ten million customers. Since 2018, Aboalarm has been a company of Verivox, which in turn belongs to the portfolio of NuCom Group, the digital division of ProSiebenSat.1. In the future, Aboalarm GmbH will be a wholly owned subsidiary of volders GmbH.
By acquiring Aboalarm, Volders focuses on its further growth, which can be realized more quickly through synergies with the competitor. The now more than 50 employees work consistently on merging technologies, marketing the three brands Volders (volders.de), Aboalarm (aboalarm.de), and Finlytics (finlytics.de), as well as product development around consumers’ personal finances. The acquisition enables Volders to bring new B2C products to market faster and to decisively develop the B2B fintech software Finlytics for partners from the banking and insurance sectors.
As part of the acquisition, the companies published business figures for the first time: Over 110,000 notices per month are processed, an eight-figure annual revenue, and a monthly positive EBITDA is generated.
Jan Hendrik Ansink, founder and CEO of Volders: “Aboalarm is a perfect fit for Volders and the acquisition underscores our stated goal of becoming the leading contract assistant in the German market. We see considerable synergy potential in bringing together the experienced teams, strong brands, and established products of the two companies. Thus, the acquisition is an important step for our further organic and inorganic growth. In addition, we are consolidating the German termination market and will launch additional products around consumers’ personal finances.”
The transaction was completed in mid-August. The parties agreed not to disclose financial details.
More information is to be found here https://volders.de.