US private equity firm Warburg Pincus has agreed to acquire an additional 10% stake in its portfolio company, Switzerland-based financial technology firm Avaloq, from Raffeisen Bank.
GP also announced the refinancing of online gardening retailer YouGardem, scoring a 60% cost return
CDP Venture and Tim Ventures take part in the round, alongside Club Digital and Club Italia Investimenti 2
Deal is the second from Bid Equity II, which held a close in November 2019 and targets B2B software
Early-stage investor Italian Angels for Growth and Swiss holding company Brahma also take part in the round