Berlin-based FinLeap GmbH, an investor, accelerator and incubator of fintech startups, today announced that it has raised a €21 million round of financing for its business, joined by a group of investors which include reinsurance conglomerate Hannover Re.
FinLeap said that it plans to invest at least €50 million within the next 12 months within its fintech network, which helps found and build digital fintech companies.
The news follows just three months after the company helped launch solarisBank, and as a number of insurance companies join the round with Hannover Re, as the prospects of fintech further converging with insuretech point to a more digital future.
FinLeap invests anywhere from €500,000 to €5 million into companies that emerge from its program, and provides human capital in the form of a powerful network of experienced entrepreneurs, investors, and customers, as part of its process and integrated technology platform.
As an active member of the Federal Association of German Banks and Bitkom, FinLeap helps strengthen the development of fintech provided through its own hub which funds and supports startups. Headquartered in Berlin, FinLeap has 250 staff from over 30 countries – through its 9 funded ventures.
European FinTech spotlight
“In the last 20 months, we built nine new companies and typically invested between 500,000 and 5 million euros. The first companies will become profitable this year and we are excited to be a key player in driving the digitalization of the European financial market forward”, said Ramin Niroumand, FinLeap co-founder and managing director, commenting in a corporate statement regarding the deal.
FinLeap Chairman, Jan Beckers – who is also CEO of the HitFox Group – one if the company’s main shareholders, commented regarding the round: “Most recently, with the founding of solarisBank, FinLeap established itself as one of the most important FinTech players in Europe and with its portfolio it will grow faster than the market. We are looking forward to continue strengthening this powerful position by being a very active investor.”
Gerald Segler, chief investment officer at Hannover Re, added in a corporate statement: “In the next years, technology driven financial service providers will create billions of dollars in revenue. We looked at different companies within the industry and FinLeap convinced us. Pre-eminently because of its team and the speed they have in bringing innovations to life.”