Markel Digital Investments backs Finanzchef24
Munich-based small business insurance company Finanzchef24 closed another round of funding led by US specialist insurer Markel that “has secured a stake in the mid-single-digit percentage range in Finanzchef24” through Markel Digital Investments .
Founded in 2012, Finanzchef24 is approximately a 50-people team serving 45,000 customers. It offers commercial insurance to sole proprietorships and small businesses in over 1,500 professions.
“The commitment of a global player like Markel confirms the potential of our business model. Many of the classic insurance segments for private customers have already gone through a massive digitalization change. In contrast, we are still at the beginning when it comes to insurance solutions for small and medium-sized companies. And we at Finanzchef24 are driving this development forward.” – Benjamin Papo, Co-CEO at Finanzchef24.
“Working with Finanzchef24, we were always impressed by how well the digital processes work towards customers and insurers. The innovation and implementation skills of the Finanzchef24 team are enormous. But above all, they understand their customers very well. This is a potential from which we want to benefit not only as a product partner but also as an investor.” – Frederik Wulff, CEO of Markel Insurance SE.
“With our business model, we bring together what entrepreneurs expect from their insurance partner: Simple and secure digital processes, distinctive advisory and specialist skills and the independence of a broker. We are convinced that this is the future in the area of SME Insurance.” – Tobias Wenhart, Co-CEO at Finanzchef24.
