Grenke Bank, together with existing shareholders Target Partners, HW Capital, and Mercura Capital, is investing four million euros in Finanzchef24. The Munich-based startup claims to be the first digital insurance broker for entrepreneurs and the self-employed in Germany.
Since 2013, the Hendrik Rennert and Felix Schollmeier (here in the interviewThe Munich-based startup, founded in 2009, is entering the insurance market and has already attracted renowned investors such as Target Partners, HW Capital, and Mercura Capital. The business figures are strong: Finanzchef24 GmbH's revenue and customer base have more than doubled year after year since its founding in 2012. 44 companies, including Allianz, ARAG, AXA, Ergo, HDI, Hiscox, R+V, and VHV, are already using the new sales channel.
“A fixture in the financial services industry”
Now, Grenke AG, an SDAX-listed company, is joining the Munich-based company. Wolfgang Grenke, founder and CEO of Grenke AG, explains the investment:
"The target groups addressed by Finanzchef24 and GRENKE Bank are highly comparable. Therefore, they will cooperate in sales in the future. This collaboration has now been underpinned by a strategic investment in Finanzchef24 GmbH as part of a financing round."
Waldemar Jantz, Partner at Target Partners, says:
"Since our first investment in 2013, Finanzchef24 has become a major player in the financial services industry. The outstanding team, the growth over the past few years, and the further market potential convinced us to increase our investment."
Finanzchef24 wants to benefit from Grenke know-how
The startup plans to use the fresh capital to further accelerate its existing growth and further develop its product portfolio and its consulting and comparison software.
Finanzchef24 Managing Director Rennert says the Grenke Group faced similar challenges in the areas of leasing, factoring, and banking as the young company and has already resolved them. Co-founder Schollmeier adds:
“We are therefore pleased that, in addition to a strategic investor, we have also been able to gain an experienced partner for a cooperation that will generate significant benefits for both customer groups.”
