Afinum acquires instant messaging software Threema

Threema's founders will continue to hold a significant minority stake in the company, according to a statement.

The company intends to make its software code open-source in the near future, it said in a statement, allowing external parties to verify the security of its software.

Afinum is currently deploying equity via its eighth flagship fund, Afinum Achte Beteiligungsgesellschaft, which held a final close in September 2017 on €410m and was around 60% deployed as of April 2020. The vehicle has made nine platform investments and intends to make around 12-14 in total. It deploys equity tickets of €20-50m.

Afinum's most recent investment prior to Threema was Germany-based IT components producer Listan, which it acquired in August 2020. The GP's investment strategy generally deploys around €100m in equity per year, according to Unquote Data.

Company
Threema produces secure instant messaging software for use on mobile phones by companies and private individuals. Threema Work, for use by businesses, is used by a range of DAX 30 companies, NGOs and educational institutions. Founded in 2014 and based in Pfäffikon, Switzerland, Threema employs 21 people.

People
Threema – Martin Blatter (CEO).
Afinum – Gernot Eisinger, Thomas Bühler (managing partners).

Advisers
Vendor – GCA Altium (corporate finance).

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