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Ping An advances in Europe with EUR41.5 million investment in finleap

Ping An advances in Europe with EUR41.5 million investment in finleap

Finleap, the fintech venture builder behind the launch of Germany's solarisBank, has raised EUR41.5 million in an investment round led by Ping An Global Voyager Fund.

The $1 billion Ping An Global Voyager Fund was launched in 2017 with a mission to invest in world class fintech and digital health capabilities. The investment in finleap marks the Chinese insurance giant's first move into continental Europe,.

Jonathan Larsen, Ping An Group chief innovation officer, comments: "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."

Berlin-based finleap in July signaled its intention to position as a provider of bundled solutions for startups and banks, melding stand-alone products across a common platform. The company is currently rolling out two platform-based products to connect disparate applications in the consumer markets - FinReach - and in business process management - Infinitec.

Ping An joins a long list of strategic investors in finleap, including Hannover Re, Sginal Iduna, NIBC, MS&AD Ventures and SBI.

Ramin Niroumand, founder and CEO of finleap says: "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."

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