Europe's fintech company finleap has raised €41.5m in its 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.
Finleap founder and CEO Ramin Niroumand said: “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.”
Ping An Group chief innovation officer Jonathan Larsen said: “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.”
Source: Company Press Release