FinLeap FinTech incubator raises EURO39m
FinLeap, the startup platform behind Germany's solarisBank, has secured €39 million in equity capital to support its ongoing FinTech incubation programme. Next to the founding shareholder Berlin-based HitFox-Group, new institutional investors include the German insurer Signal Iduna, Japan's SBI Group and Dutch bank NIBC. Hannover Re, the third largest worldwide reinsurer, also raised its stake having participated in the platform's last €21 million raise.
Having launched 12 FinTech ventures so far - including bank account switching platform FinReach, digital debt management outfit Pair Finance, insurance broker Clark, and Germany's solarisBank - FinLeap is already active in 10 European countries.
The investment from SBI Japan represents something of a coup for FinLeap, opening up access to Asian markets for portfolio companies.
Yoshitaka Kitao, SBI CEO, says: "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."
With funding now secured, FinLeap is moving its HQ, taking over seven floors of the former Berliner Bank headquarters in the vicinity of Zoologischer Garten. FinLeap and several of its ventures have already moved in to the new campus. The renovation of the 11 000 square metre building is expected to be finished by the end of 2017.
FinLeap CEO Ramin Niroumand says: "We want to create a space that serves as link between the digital and the financial industries. It will be a place for open networks and cooperations. Anyone interested in the digitalisation of the financial services industry is welcome."