Ping An Global Voyager Fund and Raisin invest in Joonko
Berlin, September 16, 2019
Joonko, the new digital financial portal from finleap, Europe's leading fintech ecosystem, is attracting prominent investors ahead of its official launch. The Global Voyager Fund of Ping An Group, the world's largest insurance company in terms of market capitalization, and Raisin, the leading provider of simple savings and investment products, are jointly investing in Joonko. With the new capital, Joonko is pursuing the technological development of its portal and the expansion of its team.
The new digital financial portal Joonko has successfully completed a seed financing round in excess of EUR 10 million. Joonko helps German consumers choose the right financial products for their personal saving and protection needs. The portal will be launched at the end of the year with its first product: car insurance. Prior to this official launch, two prominent investors will join Joonko: the Global Voyager Fund of Ping An Group, the world's largest insurance company in terms of market capitalization, and Berlin-based fintech Raisin, the leading provider of simple savings and investment products - also known under their brand name WeltSparen.
Ping An invested in finleap in 2018 and has had significant involvement in developing Joonko’s strategy and technology capabilities. Donald Lacey, Managing Director and COO of Ping An’s Global Voyager Fund, said,
"We’re pleased to cement a relationship with Joonko that includes both growth capital and technological support. To us, Joonko represents the logical evolution of financial digitalisation in Europe. It’s the right approach to innovation in retail financial services: a next generation solution designed to benefit consumers and financial product providers alike.”
Raisin's investment in Joonko is the first case of a successful German fintech investing in another German fintech company. Dr. Tamaz Georgadze, CEO and Co-founder of Raisin says,
"We believe in the close cooperation of fintechs with established financial service providers and are convinced that Joonko will successfully implement this plan. Therefore, we are happy to support the company as a financial and strategic partner with capital and expertise."
Dr. Carolin Gabor, CEO and Co-founder of Joonko, explains, "We are very pleased to have found two partners in Ping An and Raisin, both of whom have excellent financial technologies of their own, and have achieved great success in their respective markets. With the strategic expertise of our investors, technical know-how and an incredibly passionate team, Joonko will quickly become one of the top players in the financial community. The platform is convenient, totally transparent, and operates on the principle of fairness to both consumers and financial product providers. This is the kind of vision for digital finance that Europe’s consumers deserve.”
Joonko will be equipped with outstanding technology, which will bring an advantage and new approach to customers. Eric Lange, CPTO and Co-founder of Joonko, says,
“We aim for providing the best experience for consumers in finding the best-fitting financial products. Through the broad experience and best-in-class technology of PingAn and Raisin, we have a jump start for our product.”
All processes are in compliance with German and European standards.
Joonko's management team consists of Dr. Carolin Gabor (Chief Executive Officer), Dr. Andreas Schroeter (Co-Founder & Chief Operations & Marketing Officer) and Eric Lange (Co-Founder & Chief Technology & Product Officer). Joonko’s founding executives are industry veterans who have held senior level roles at leading companies like Google, Flipkart, DeliveryHero, Axel Springer, BCG, and TopTarif.de.
Joonko is the digital financial portal that enables consumers to find the financial and insurance products that match their needs. Inspired by the willpower and strength of Junko Tabei, the first woman to climb Mount Everest, Joonko has set the goal of removing all obstacles their customers face when switching and taking out their car insurance. Further financial products will follow. Joonko was founded in 2019 and is led by Dr. Carolin Gabor (CEO), Dr. Andreas Schroeter (COMO) and Eric Lange (CTPO).
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) is a world-leading technology-powered retail financial services group. With 196 million retail customers and 576 million Internet users, Ping An is one of the largest financial services companies in the world.
Ping An has two over-arching strategies, “pan financial assets” and “pan healthcare,” which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our “finance + technology” and “finance + ecosystems” strategies aim to provide customers and internet users with innovative and simple products and services. As China’s first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.
Ping An ranked 7th on the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th on the 2019 WPP Millward Brown BrandZTM Top 100 Most Valuable Global Brands list.
About Ping An Global Voyager Fund
The Ping An Global Voyager Fund was launched in 2017 with a mission to invest in world class Fintech and digital health capabilities. Ping An has seeded the fund with an initial USD 1 billion in committed capital. The fund’s investment areas include core banking, insurance and healthcare technologies, innovative digital business models, unique customer experiences, and AI. Through Ping An, the Global Voyager Fund is uniquely positioned to deliver to its portfolio companies scale access to China and accelerated technology development.
A trailblazer for open banking and the leading pan-European one-stop shop for online savings and investments, Berlin-based fintech Raisin was founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO). Raisin’s platforms — under the brand WeltSparen in the German-speaking world — are breaking down barriers to better savings for European consumers and SMEs: Raisin’s marketplace offers simple access at no charge to more than 500 attractive and guaranteed deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios (now available in Germany). With one online registration, customers can choose from all available investments and subsequently manage their accounts. Since launch in 2013, Raisin has brokered more than 15.5 billion EUR for almost 200,000 customers in 31 European countries and over 80 partner banks. Raisin was named to Europe’s top five fintechs by the renowned FinTech50 awards and is backed by prestigious European and American investors such as btov Ventures, Goldman Sachs, Index Ventures, Orange Digital Ventures, PayPal Ventures, Thrive Capital and Ribbit Capital. Raisin UK in Manchester, banking-as-a-service provider Raisin Bank in Frankfurt and pensions specialist fairr all belong to Raisin.
Press contact Joonko:
Phone: +49 30 223 89 921
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Joonko is a digital financial service portal.