CLARK acquires finanzen Group
finanzen.de AG, an Allianz X portfolio company and one of the largest financial services and insurance leads provider, will be integrated into digital insurance broker CLARK. Allianz X will receive cash and, predominantly, equity in CLARK as part of the deal, becoming CLARK’s largest minority investor.
In 2019, Allianz X made its first acquisition by acquiring finanzen Group in an attempt to enhance Allianz’s access to potential customers – over 1.2 million leads were traded on Finanzen.de’s platform in 2018.
The company, which is also a licensed broker in Germany, Netherlands, and the UK, helps consumers learn about a variety of insurance and financial services products, and when they’re ready, they can be matched with financial services professionals for comparing different products.
“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%!” – Allianz X CEO Dr. Nazim Cetin.
“With the integration of finanzen Group, we can now support our clients throughout the entire customer journey and make the insurance process more intuitive and easier than ever. CLARK is now even better positioned to deliver on its promise to become a one-stop shop for all insurance needs, from the first purchase interest to choosing the right insurance policy—all while remaining an independent and trusted broker for our clients.” – CLARK CEO Dr. Christopher Oster.
“We’re thrilled about CLARK and finanzen coming together. The successful European operations of finanzen will be the foundation for the growth of our joint business.” – finanzen Group CEO Dirk Prössel.
The transaction is subject to customary closing procedures and the approval of the German Federal Cartel Office. It is expected to be completed in the first quarter of next year.