Viseca sells Contovista to Finnova

Viseca has sold Contov­ista, a Swiss fintech com­pany focus in data-based bank­ing, to Finnova.

Finnova, a Lenzburg-based banking software manufacturer, is taking over Contovista, based in Schlieren (Zurich), with retroactive effect from 1 January 2022. The two companies have been working together successfully for years. Finnova agreed with current owner Viseca to take over 100% of the shares of Contovista. It has been agreed not to disclose the purchase price.

Founded in 2013, Contovista is a pioneer in data-driven banking in the Swiss financial industry. The company provides data analytics and white-label financial management solutions. Its services can be seamlessly integrated into existing banking systems. Currently, more than five million clients use the Contovista solution through its partner banks.

Regarding the seller, Viseca is a provider of products and services of cashless payment. This includes the issue of payment cards (Viseca Card Services), the provision of card business services for issuers (Viseca Payment Services) and the development of innovative financial management solutions (Contovista). In 2021, revenue was at CHF 420.6 million and earnings was at CHF 50.9 million. Viseca is wholly owned by the largest Swiss cantonal and retail banks. These include all cantonal banks, the Raiffeisen Group, Entris Banking, Migros Bank, Bank Cler, regional banks and a number of private and commercial banks.

For Finnova and its clients, data-driven banking is a strategic area alongside banking automation and digitalisation. The merger with Contovista creates a department with around 50 data experts and substantial knowledge of the different facets of data-driven banking.

Along with Lenzburg, Seewen, Chur and Nyon, Schlieren will be Finnova’s fifth location. Finnova has already implemented the New Work approach and enables its employees to work flexibly from any location. The employees of Contovista will be absorbed and merged with Finnova’s “Finnova Analytical Framework” team in a new area. Its management reports directly to CEO Hendrik Lang.

Advestra acted as leg­al coun­sel to Viseca in this trans­ac­tion. The team included the partner Beda Kaufmann (pictured), Annina Ham­mer, Daniel Raun and Mar­lon Ber­to­lini (all cor­por­ate/m&a).