finleap secures EUR 41.5 million and welcomes financial services giant Ping An to the family
Today finleap has reached a big milestone on our mission to reshape the future of finance: we are very pleased to announce that we have just closed our latest funding round of over EUR 41.5 million led by the Chinese financial services firm, Ping An Global Voyager Fund.
Since 2014, we have been transforming the financial industry in Europe with our unique ecosystem of technology companies, digital offerings and partners. We are now looking at a bright future working alongside the financial services powerhouse and are delighted to partner with a company whose DNA reflects our own ambitions of being 100% digital and at the forefront of innovation. We see a lot of potential to work together to accelerate the digital transformation of Europe‘s financial services landscape.
Ping An boasts an impressive track-record to today being consistently listed as one of the top global insurance and financial services brands. Beginning solely as an insurance firm, the company diversified to cover insurance, banking and asset management and is now also directing focus to the digital transformation occurring within the industries. They are the market leader in insurance in China and therefore the world‘s largest insurance company by market capitalization earning them the 29th place on Fortune Global 500 and 10th in the Forbes Global 500 list. On 30th June 2018, the group had over 170 million individual customers. Moreover, they have also had great success as a company builder in China for years, having already built two fintech companies. By investing in finleap, Ping An Global Voyager Fund enters the continental European market for the first time.
With Ping An, we continue to strengthen our network of quality strategic investors, including Hannover Re, Signal Iduna, SBI, NIBC, and MS&AD Ventures. With such a diverse pool of partners: an insurance company, a reinsurer, partners for international expansion, a bank and now an absolute pioneer in technological developments, and all with outstanding international reputations and strengths, finleap will benefit and continue to assist the financial services industry in digital transformation.
This success is not only a confirmation of our vision and performance up until now, yet also a sign of trust in our capabilities.
The fresh capital will be used to support our further growth and to develop new technologies and companies as well as to expand further geographically. We are very excited that with this injection of capital we will be able to continue work on strengthening our current portfolio and also have the opportunity to explore new concepts. Our ambition is the development of new ventures across Europe by making use of Ping An‘s significant in-house technology capabilities, particularly in AI and blockchain.
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.