GRENKE Bank - along with existing shareholders Target Partners, HW Capital und MERCURA CAPITAL - leads a €4m financing round for FInanzchef24 GmbH. Finanzchef24 is the first digital insurance broker for entrepreneurs and companies in Germany and operates online finance portal for business customers.

The Finanzchef24-team around founders Hendrik Rennert and Felix Schollmeier is excited about the new investor and the successfully concluded financing round with GRENKE Bank and the existing shareholders, Munich-based venture capital investor Target Partners, the family office of the two Interhyp founders HW Capital and MERCURA CAPITAL.

“The target groups addressed by Finanzchef24 and GRENKE Bank are very similar, which is why the companies plan a sales cooperation going forward. This cooperation will now be supported by our strategic financial investment in Finanzchef24 GmbH, which was made in the recent round of financing.” says Wolfgang Grenke, founder and CEO of SDAX-listed GRENKE AG. Sven Noppes, member of the executive board of GRENKE Bank adds: “We were particularly impressed by Finanzchef24’s previous high growth rates in the joint target group consisting of founders as well as young, small and mid-sized enterprises. Especially since no other provider before Finanzchef24 was able to service the digital channels for this customer group in such an efficient manner.”

“Since our first investment in 2013, Finanzchef24 has become a significant player in the financial services industry. The excellent team, the growth in recent years as well as the market potential convinced us to increase our investment” says Waldemar Jantz, partner at Target Partners.

Revenue and customers have doubled year on year since the founding of FInanzchef24 in 2012. The investment will be used to increase existing growth and to further develop the product portfolio and the client advisor and comparison software. “Through the use of excellent processes and technology we make the lives of our customers easier by making business insurance as easy and convenient as possible. GRENKE Group solved a very similar issue in the areas of leasing, factoring and banking in the very same customer segment” says Rennert. “Thus, we are happy that we not only gained a strategic investor, but also an experienced partner for a joint cooperation which will generate significant advantages for the respective customers” adds Schollmeier. 

Munich, 5th July 2016