About the transaction
BlueBull, the financial advisory firm specialised in advising technology-driven and high-growth businesses in M&A transactions, acted as the exclusive financial advisor to the shareholders of Switcho on its sale to Mavriq, the broking division of Moltiply Group, an Italian technology conglomerate listed in the segment STAR of Euronext Milan. Mavriq has acquired a majority stake in Switcho, with plans to integrate Switcho’s innovative services into its comprehensive price comparison offering, primarily aiming to enhance its utilities price comparison capabilities.
Founded in 2019 and headquartered in Milan, Switcho is the leading provider offering a digital platform for switching utility providers. The company operates in the Italian market, offering a solution to save on electricity, gas, internet, landline and mobile network services, and insurance. Switcho’s digital solution is characterized by a highly distinctive and completely digital model, which performs a personalized bill analysis and presents the customer with the best offers on the market. The platform handles all bureaucratic processes, allowing users to switch providers effortless and enjoy optimised rates.
BlueBull exclusively advised Switcho in the analysis of all available options in order to find a strategic partner that would enhance Switcho’s capabilities and expand its innovative services across Italy. The combination of both companies, Switcho and Mavriq, will create leader within the European market, driving innovation and delivering greater value to final consumers.
Founded in 2019 and headquartered in Milan, Switcho is the leading provider of utility switching services in Italy, specialising in energy, internet, mobile & landline services, and insurance. Its innovative platform simplifies the process of switching providers, offering users significant savings and an enhanced user experience.
Switcho has built a solid customer base and expanded its market reach through strategic partnerships with top players in the banking, fintech and real estate sectors.
The Company is led by CEO Marco Tricarico, COO Redi Vyshka & CTO Francesco Laffi and is supported by a team of 80+ professionals dedicated to delivering top-notch service.
+€6M
2023 Revenue
9
Partnerships with major Italian banks
+200
Partnerships with fintechs & real estate agencies
Mavriq, the newly established institutional brand that encompasses the brands of Moltiply Group (the new name for Gruppo MutuiOnline) active in online comparison and brokerage of products and services, is among the leading European technology companies in the sector.
With 19 online comparison brands in 5 countries (including household names such as Segugio, MutuiOnline, and Trovaprezzi in Italy, LeLynx inFrance, Rastreator in Spain and Mexico and Pricewise in the Netherlands), accounting for +250 million annual visits and +300 million potential customers.
In 2023 Mavriq’s businesses generated €188.1M in revenues (+44% year-on-year) and €60.7M in EBITDA (+30% year-on-year).
19+
Online comparison brands
+250M
Annual visits
Listed
Entity on Borsa Italiana since 2007
"BlueBull’s strategic expertise was key in facilitating our partnership with Mavriq, ensuring a beneficial outcome for all parties involved"
Marco Tricarico – Co-Founder & CEO
Redi Vyshka – Co-Founder & COO
Francesco Laffi – Co-Founder & CTO
BlueBull is a leading investment bank with a presence in Southern Europe, specialising in advising technology and high-growth companies with disruptive and innovative business models.
More information
Joaquín Durán
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Francesco Crovace
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Daniel Alcusa
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+40
Tech transactions advised
+30
Tech-focused investment banking professionals
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