Verivox GmbH was founded in Heidelberg in 1998 and is Germany’s largest independent consumer portal for energy.

Investment Year
2009
Sector
Online, Consumer
Location
Germany
Fund
Fund I & Fund II
Status
In portfolio

Verivox GmbH was founded in Heidelberg in 1998 and is Germany’s largest independent consumer portal for energy. In addition, Verivox offers online comparisons for telecommunication, insurance and finance products as well as a search engine for commission-free real estate properties and pre-owned automobiles.

 

Verivox has successfully helped more than 8 million households switch their utility providers with consumer savings in excess of €1 billion. Verivox has 350 employees across seven offices in Germany (Heidelberg, Berlin, Linden, Augsburg and Leipzig) and Switzerland (Lucerne and Zurich). The company has earned numerous awards by independent press, consumer-protection portals and is often featured as best-in-class and leading German online comparison portal.

 

Oakley acquired a majority stake in Verivox in December 2009 from Independent News & Media. In partnership with the founders, Oakley supported the management in achieving rapid growth in profitability and helped transition the business from its entrepreneurial roots towards a more corporate style. Under Oakley’s ownership, Verivox introduced offline advertising to strengthen its brand awareness, and launched new product verticals to diversify its revenue beyond its core energy focus.

 

Following a competitive sales process in early 2015, Verivox was sold to ProSiebenSat.1 in August 2015 for €200 million, generating a 14.5x return and a 71% IRR. As part of the transaction, Oakley was offered the opportunity to acquire a minority stake on the same terms as ProSieben which is held by Fund II.