Hannover Re, MS&AD-backed finleap raises €41.5m from Ping An
Berlin-based finleap, a company builder specialising in fintech, has raised €41.5 million in a new funding led by Chinese insurer Ping An‘s Global Voyager Fund.
Upon the completion of the investment round, Ping An Global Voyager's managing director and chief operating officer Donald Lacey will assume the role of chairman of finleap‘s advisory board.
Finleap will use the fresh capital to support its growth, and the development of new technologies and geographic expansion, according to a corporate statement.
Finleap's existing investors include Hannover Re, Signal Iduna, NIBC, MS&AD Ventures and SBI.
Ramin Niroumand, founder and CEO of finleap, said: "Since our launch four years ago, we have been transforming the financial industry in Europe with our unique ecosystem of technology companies, digital offerings and partners. We are delighted to welcome Ping An to finleap and are enthusiastic about our potential to work together to accelerate the digital transformation of Europe‘s financial services landscape."
"Finleap also intends to invest further in its fintech platforms, finreach solutions and infinitec solutions," Niroumand added. "Both platforms enable traditional corporations to easily create comprehensive fintech solutions that provide next-generation, digital financial services offerings for their customers."
Jonathan Larsen, Ping An Group chief innovation officer, commented: "We have been impressed by the breadth and depth of finleap‘s capabilities in the European fintech space. By providing a significant financial commitment to finleap, Ping An expects that finleap will be able to build meaningfully on its many existing accomplishments and play an even more prominent role in the disruption of traditional financial services models across Europe."
Founded in 2014, finleap has already developed 16 ventures with its infrastructure. These include companies such as solarisBank, fully digital insurer ELEMENT, provider of data-based receivables management PAIR Finance, and the fintech platforms finreach solutions and infinitec solutions for contextual finance. The firm provides access to seed capital, a network of investors and experienced entrepreneurs. The finleap Group employs more than 700 people from over 60 countries.
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