Proptech: Cantonal banks take stake in Emonitor
The Cantonal Banks of St.Gallen, Graubünden and Lucerne acquire a stake in Emonitor AG, which digitalises rental and sales processes for real estate.
As the St.Galler Kantonalbank AG (SGKB), the Graubündner Kantonalbank (GKB) and the Luzerner Kantonalbank AG (LUKB) write in a joint statement, the aim of the investment is close cooperation between Emonitor AG and the real estate portal Newhome.ch. SGKB, GKB and LUKB, together with 14 other cantonal banks and players from the Swiss real estate industry, are the owners of Newhome.
Emonitor is a fintech founded in 2016 with a focus on real estate and specialises in the digitalisation of real estate rentals and sales. In terms of digitised transactions, the company is the Swiss market leader, write the cantonal banks.
SGKB, GKB and LUKB are now the largest minority shareholders of the owner-managed proptech based in St. Gallen and Zurich. As a representative of the institutions, Enrico Lardelli, member of the Executive Board of GKB, sits on the Board of Directors of Emonitor AG.
According to their own statements, SGKB, GKB and LUKB intend to win over further cantonal banks to participate in Emonitor in the coming months, in order to broaden their commitment. (ah)
