3 October 2024
Direct Group, led by Pavel Rehak, has entered into an agreement to acquire a 100% stake in the investment platform Fondee. The move further expands the company's presence in the Czech and Polish financial services markets and marks its new entry into the Slovak market.
Fondee has approximately 17,000 clients and, according to its recently published financial report, increased its revenues by 25% year-on-year to CZK 5.6 million last year. At the same time, it reduced its loss by 40%, from CZK 21m to CZK 12.4m. The platform allows clients to invest in portfolios focused on stocks and bonds. It was founded by Eva and Jan Hlavsa after they returned from London seven years ago, where they gained experience in global banks.
The Direct Group was established in 2014 by acquiring 100% of the shares of the Triglav insurance company. It includes several companies, including Direct Insurance and Direct Auto. The group is financed by VIGO Investments, Pavel Rehak's investment group, which was founded in 2013.
The purchase price has not been disclosed and the takeover is subject to approval by the Czech National Bank.