Expander (Poland) - Nov 2007

Innova Capital has invested in Polish mortgage brokerage and distributor Expander. Innova/4 LP, a fund advised by Innova Capital, will acquire 60% of the shareholding in Expander with the remaining stake being retained by GE Money.

Company

Expander offers mortgages of more than 20 banks as well as a few hundred investment products. The company, which was initially set up as an internet service that would sell financial products in 2000, now has 57 branches with 300 financial advisers. It was acquired by US-based GE Investments at the beginning of 2003. The company will use the investment to diversify its product offering and expand its geographical footprint.

People

Dmitri Stockton is the president and CEO of GE Money’s Central and Eastern European region. Krzysztof Kulig is partner at Innova Capital. Malgorzata Zbierada is the CEO of the company.

Sourced from: Deutsche unquote" 94 (Jan 2008)

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• Topics
• CEE
• Buyouts
• Financials
• Poland