Ping An Global Voyager Fund and Raisin invest in Joonko
Berlin-based car insurance comparison portal Joonko, a creation of finleap, has attracted big-name investors The Global Voyager Fund of Ping An Group and Raisin, also known as WeltSparen, in a seed round raising €10 million.
The joint investment will help Joonko, a financial product and savings adviser for German citizens, to develop the technology underpinning its portal and to grow its start-up team.
Whilst Ping An invested in finleap in 2018 and helped develop Joonko’s strategy and technology, Raisin’s involvement is the first example of a successful German fintech investing in another German fintech company.
“To us, Joonko represents the logical evolution of financial digitalisation in Europe,” says Ping An’s Global Voyager Fund MD and COO, Donald Lacey. “It’s the right approach to innovation in retail financial services: a next generation solution designed to benefit consumers and financial product providers alike.”
For Raisin’s CEO and co-founder Dr. Tamaz Georgadze, the close cooperation of fintechs with established financial service providers is a great belief of hers and the company’s, so she is convinced that Joonko will successfully implement its plan.
Using Ping An and Raisin’s technology, Joonko will “jump start” it’s first product, car insurance, which will be offered through the portal by the end of this year.
Joonko’s CEO and co-founder Dr. Carolin Gabor is confident her company will now become one of the “top players” in the financial community.
Gabor adds: “Our 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.”