FinLeap Raises €39 million

Press Release

41 Charlotte Square

Edinburgh, EH2 4HQ

17 July 2017

Shackleton is delighted to confirm today that FinLeap has closed a €39 million funding round led by international investors, including German insurer Signal Iduna Group, the SBI Group from Japan, and the Dutch Bank NIBC.  German reinsurer Hanover Re also invested further in the round, thereby cementing their ongoing trust in the cooperation with FinLeap.

Yoshitaka Kitao, CEO at the SBI Group: “As one of Asia’s largest venture capital companies, we specifically invest in the key technologies of the 21st century. That is why the fintech sector is of great importance to us. As one of the largest and most professional players, FinLeap already belongs to the elite of this sector. We are very proud of this successful partnership.”

Paulus de Wilt, CEO of NIBC Bank: “Entrepreneurship and inventiveness are core values in our organization and we are proud of becoming a strategic partner to FinLeap. With its unique ecosystem of FinTech ventures, FinLeap is at the forefront of innovation in the digital age of finance. Its profound expertise in building successful business models in a complex and regulated environment, will help us further tailor our offering to meet the complex and changing needs of our clients. The partnership between NIBC and FinLeap will pave the way towards interesting areas of cooperation, both in Germany and internationally.”

Ramin Niroumand, Co-Founder and CEO at FinLeap: “We are glad to hold the trust of even more institutional investors. By having a growing number of partners we are not only gaining more independence but also stability, because our partners are renowned banks and insurers. Both effects are valuable components for the development of complex fintech businesses.”

Having launched twelve fintech ventures so far, FinLeap is already active in ten European countries.

For further information:

Notes to editors

Shackleton Ventures

• Shackleton specialises in direct secondary venture and development capital investments – where Shackleton will buy a portfolio of existing investments, or an individual asset, from an investor that is seeking liquidity.
• Shackleton holds a 11% interest in FinLeap through its latest Victoria Fund.
• Shackleton’s funds have acquired investments from a range of institutional and corporate vendors and from several private individuals.
• Shackleton secondary funds are managed by FCA-authorised Shackleton Finance Limited.
• For further information: shackletonventures.com

FinLeap

• FinLeap serially develops Fintech companies, supporting them with strong infrastructure and guiding their growth.
• Twelve ventures have been brought to market providing services for private and corporate clients.
• The FinLeap ecosystem includes, for instance, FinReach, which offers among others a solution for switching bank accounts; PAIR Finance, a solution for digital debt management; Clark, a digital insurance broker; and solarisBank, a digital platform with a full German banking license.
• Each venture is raised on a solid FinLeap foundation that provides not only seed funding from €0.5 million up to €5 million but also a strong network of investors, an integrated development platform and advice on best practice processes.
• In addition, the company builder provides contact to experienced businesses, clients and top talents in the industry.
• FinLeap’s team is made up of over 450 employees from more than 30 countries.
• The company’s headquarters are located in Berlin.

Signal Iduna

The SIGNAL IDUNA Group dates from small health insurances that craftsmen and businesses had founded more than 100 years ago in Dortmund and Hamburg. Today, the SIGNAL IDUNA GROUP covers the whole range of financial and insurance services for all target groups. The sales and distribution network is one of the largest in the German insurance landscape. The corporation manages more than 12 million customers and contracts and earns a membership revenue of around € 5.6 BN.

NIBC

NIBC is the bank of choice for decisive moments. The Corporate Banking activities offer a combination of corporate finance & capital markets, financing and investing in the sectors Food, Agri, Retail & Health, Industries & Manufacturing, Infrastructure & Renewables, Commercial Real Estate, Oil & Gas Services, Shipping & Intermodal and Telecom, Media, Technology & Services. Retail Banking offers residential mortgages in the Netherlands and online retail saving deposits in the Netherlands, Belgium and Germany via NIBC Direct. Headquartered in The Hague, NIBC also has offices in Frankfurt, Amsterdam, London and Brussels.

SBI Group

The SBI Group was established in 1999 as a pioneer of Internet-based financial services in Japan. Since then, the SBI Group has formed the world’s first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. In addition, the SBI Group provides Asset Management Business, with a prime focus on investment in venture companies – an activity undertaken since before the Group’s founding. In this sphere, the SBI Group has made focused investments in the IT and biotechnology sectors, which are the 21st century growth industries. Currently, the development of new technologies is accelerating within the FinTech, IoT, AI, Big Data and related fields thus attracting global attention. The SBI Group is proactively investing in venture companies within these fields.

Hannover Re

Hannover Re, with gross premium of EUR 16.4 billion and assets under own management of EUR 41.8 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 2,900 staff. The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer financial strength ratings: Standard & Poor’s AA- “Very Strong” and A.M. Best A+ “Superior”.