says Christopher Oster,
CLARK integrates finanzen Group and becomes the leading European InsurTech
09 November 21
Frankfurt am Main, November 09, 2021. Frankfurt-based insurtech CLARK announces a deal with Allianz X to integrate finanzen Group, one of the leading platforms for lead generation and trading in the European insurance and financial services sectors. The transaction makes CLARK a unicorn and one of the world's largest Insurtechs. CLARK is acquiring finanzen Group via a share for share exchange with Allianz X, which will become CLARK’s largest minority shareholder. CLARK remains fully independent and continues to offer its customers the best tariffs from more than 160 insurance partners. Existing investors, such as NexenaiCapital, White Star Capital and Tencent as well as new investors, such as Eldridge and Kreos, provided the purchase price that was paid in addition to the share for share exchange, as part of a funding round.
Strategic alignment for international expansion
While finanzen Group specializes in generating and selling insurance leads, CLARK operates in insurance advisory services and brokerage. By combining the two complementary business models, CLARK will be able to service customers along the entire value chain: from initial buying interest to the information search to selecting the right tariff. With the combination of CLARK’s holistic advisory approach and the leading market presence of the finanzen Group in five European countries, CLARK can boldly pursue its ambitious growth goals.
“"Our aim is to become the largest insurance broker in Europe. We take CLARK to several European markets in 2022 and will be perfectly positioned to do so with finanzen Group’s motivated team and established presence in five European markets,"”
CEO and co-founder of CLARK.
““We’re delighted to be part of this exciting journey from the very beginning. The achievements and the passion of the team over the past years have been truly impressive and made this success possible. This deal is proof of this success and the underlying growth strategy.””
said Magdalena Fichtl,
Investment Manager at NexenaiCapital.
““finanzen and CLARK are a match made in insurtech heaven, but our journey with finanzen doesn’t end here. Now, as CLARK’s largest minority investor, we will continue to support in building one of the world’s biggest and most successful insurtechs. We’re behind the team 100%!””
said Dr. Nazim Cetin
Allianz X CEO
CLARK continues success story
Since its founding six years ago, CLARK has grown 70 times faster than the entire German insurance market and currently serves over 450,000 customers in Germany and Austria, cooperating with more than 160 insurers while being completely independent. Most recently, CLARK had again accelerated its growth with a successful 69 million euro Series C Funding at the beginning of 2021.
The acquisition of the finanzen Group companies marks the next strategic milestone of the insurance management revolution.
“"We want to accompany our customers holistically along every step of the user journey: From the initial search of information to the selection of the right policy to the review and adjustment of insurance coverage when life circumstances change,"”
explains Christopher Oster,
CEO and Co-Founder of CLARK.
About CLARK
CLARK, the leading insurance manager, offers its customers the opportunity to digitally manage, compare and improve their insurance policies. More than 450,000 customers already benefit from CLARK's intelligent algorithms and individual expert consultation. CLARK was founded in June 2015 and employs a total of more than 350 people at its four corporate locations in Frankfurt am Main, Berlin, Püttlingen and Vienna.
About NexenaiCapital
NexenaiCapital is a venture capital firm that invest in the early stages of companies that are transforming markets, creating value, and enhancing people’s lives through technology. NexenaiCapital's success lies in growing companies, scaling organizations and rolling out new technologies. NexenaiCapital currently manages assets under management of more than EUR 250 million across all investment platforms.
About finanzen Group
finanzen Group, the leading European marketplace for consumer leads in the finance and insurance industry, connects customers researching online with experts such as insurance brokers or financial advisors. The group offers its services in 5 European countries.
About Allianz X
Allianz X invests in digital frontrunners in ecosystems relevant to insurance and asset management. As one of the pillars of the Allianz Group’s digital transformation strategy, Allianz X provides an interface between Allianz Operating Entities and the broader digital ecosystem, enabling collaborative partnerships in insurtech, fintech, and beyond.