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Ringier Digital Ventures takes stake in Movu
The platform operated by Movu is revolutionizing the experience of those seeking moving or cleaning services. This Zurich-based start-up has achieved rapid growth since it was first established in May 2014. In its first year of operations, it successfully arranged 2,100 removals. With some 700,000 people moving home each year in Switzerland, the potential for Movu is very substantial. The company’s business partners include Swisscom, Europcar, Hertz and AXA Winterthur.
The era of the stress-free house move has begun. Using inventory data supplied by the customer by video, phone or online form, Movu collects offers for the service required from a list of reliable partners. Using a points-based evaluation system, the best fixed-price offer can then be determined. Movu can also provide useful services to those organizing their own moves. Whether customers need packing boxes, want to check their insurance arrangements, find suitable storage providers or simply let people know their change of address, Movu can help them, even providing a personalized advisory service over the phone. All this not only makes for less stress and physical exertion, it also helps people to save time and money, thus turning their move to their new home into an enjoyable experience.
As David Hug, Managing Director, Ringier Digital Ventures AG, sees it: “Movu has great potential in the relatively fragmented Swiss removals market. We intend to use our capabilities and know how to help this start-up achieve faster growth and greater market coverage.”
Laurent Decrue, CEO and co-founder of Movu AG, adds: “With Ringier we now have an experienced business partner on board. We look forward to working with Ringier to revolutionize the removals market in Switzerland and will soon be able to offer our customers all the services they require from one single platform.”
Established as a venture-capital business in January 2015, Ringier Digital Ventures has investable funds of CHF 30 million and plans to complete between five and eight new transactions each year, either in a lead-investor or co-investor role.
Ringier AG, Corporate Communications