Hipages boosts tradie platform with majority stake in VIZ Insurance

hipages Group Holdings Ltd. ( (AU:HPG) ) just unveiled an update.

Hipages Group Holdings has acquired a 51% stake in VIZ Insurance, a digital-first insurance platform tailored for Australian tradies, for $1.4 million, funded from existing cash reserves. VIZ offers fast, specialised cover across more than 85 trade occupations and a digital wallet insurance card, operating under an underwriting agency model where it owns the brand and distribution while Ivory Insurance carries the risk.

The deal advances hipages’ platform strategy to expand into adjacent services, significantly increasing its addressable market and supporting higher customer retention and revenue growth. With board representation, options to acquire the remaining equity based on VIZ’s future revenue and profitability, and potential to introduce insurance products to homeowners, hipages is positioning its platform as a broader operating system for trade businesses, which may enhance value for its tradie customers and shareholders.

The most recent analyst rating on (AU:HPG) stock is a Hold with a A$0.78 price target. To see the full list of analyst forecasts on hipages Group Holdings Ltd. stock, see the AU:HPG Stock Forecast page.

More about hipages Group Holdings Ltd.

Hipages Group Holdings is an ASX-listed online tradie marketplace and Software-as-a-Service platform that connects trade businesses with residential and commercial consumers in Australia and New Zealand. Through its hipages Australia and Builderscrack platforms, it serves nearly 5 million users and over 35,000 subscribed trade businesses, offering an all-in-one workflow tool, hipages for business, to manage jobs from lead generation to payment completion.

Average Trading Volume: 58,216

Technical Sentiment Signal: Sell

Current Market Cap: A$95.83M

Learn more about HPG stock on TipRanks’ Stock Analysis page.