Shackleton investee FinLeap, which is now Europe’s largest fintech company builder, today announced that it has raised EUR 41.5 million in an investment round, led by Ping An‘s Global Voyager Fund.
Ping An, a leading Chinese financial services firm, is the world‘s largest insurance company by market capitalization and a widely recognized fintech and healthtech innovator.
“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. While we have accomplished a lot so far, we still have a lot to learn from Ping An, a global market leader whose DNA is 100 percent digital and at the forefront of innovation,” says Ramin Niroumand, founder and CEO of finleap.
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.”
Ping An joins a long list of quality strategic investors in finleap, including Hannover Re, SIGNAL IDUNA, NIBC, MS&AD Ventures and SBI.
The fresh capital will support finleap on its further growth course and will be used for the development of new technologies and companies as well as further geographic expansion. “All our investors have an outstanding international profile and diverse strengths, from which we benefit enormously. An insurance company, a reinsurer, partners for international expansion, a bank and now an absolute pioneer in technological developments”, Niroumand said. finleap also intends to invest further in its fintech platforms, finreach solutions and infinitec solutions. Both platforms enable traditional corporations to easily create comprehensive fintech solutions that provide next-generation, digital financial services offerings for their customers.
Upon the completion of the round, Donald Lacey, Managing Director and Chief Operating Officer of Ping An Global Voyager, will assume the role of Chairman of finleap‘s advisory board. Commenting on the investment, Lacey said, “Our mandate at Ping An Global Voyager is to invest in opportunities where we believe an affiliation with Ping An Group will significantly enhance the value of a partner company. In finleap, we see a focused and high quality company builder that has the ability to accomplish great things with an infusion of more capital. Our ambition is to help finleap accelerate the development of new ventures across Europe by making use of Ping An‘s significant in-house technology capabilities, particularly in AI and blockchain.”
About Ping An
Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) is a world-leading technology-powered personal financial services group. With 182 million customers and 513 million Internet users, Ping An is one of the largest financial services companies in the world.
Ping An has two over-arching strategies ‘pan financial assets’ and ‘pan healthcare’, which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems in financial services, healthcare, auto services, real estate services and Smart City services. Our aim is to provide customers and internet users with innovative and simple products and services. As China’s first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The company is listed on the stock exchanges in Hong Kong and Shanghai.
Ping An ranked 10th in Forbes’ 2018 Global 2000, and it ranked 29th in Fortune Magazine’s 2018 Global 500 Leading Companies. Ping An also ranked 43rd in 2018 WPP Millward Brown’s BrandZTM Top 100 Most Valuable Global Brands. For more information, please visit www.pingan.cn
Ping An Global Voyager Fund
The Ping An Global Voyager Fund was launched in 2017 with a mission to invest in world class Fintech and digital health capabilities. Ping An has seeded the fund with an initial USD 1 billion in committed capital. The fund’s investment areas include core banking, insurance and healthcare technologies, innovative digital business models, unique customer experiences, and AI. Through Ping An, the Global Voyager Fund is uniquely positioned to deliver to its portfolio companies scale access to China and accelerated technology development.
finleap is a company builder for Fintech companies based in Berlin with an office in Milan. Founded in 2014 by HitFox Group and Ramin Niroumand, finleap has already developed 16 ventures with its infrastructure and made market entry possible. These include companies such as solarisBank, the first banking platform with a full banking license, ELEMENT, a fully digital insurer, PAIR Finance, a provider of data-based receivables management, and the fintech platforms finreach solutions and infinitec solutions for contextual finance. finleap provides access to seed capital, a network of investors and experienced entrepreneurs as well as customers and top talents. The finleap Group employs more than 700 people from over 60 countries.