Ping An invests in Joonko to modernize financial services in Europe
Ping An Insurance has announced that its Ping An Global Voyager Fund is investing Joonko_io , a digital car insurance provider by finleap , a European fintech ecosystem.
Established in 2019 and has yet to launch, Joonko plans to offer car insurance that’s fair and simple.
“Our name is inspired by the story of the Japanese women Junko Tabei, who was the first woman to climb the Mount Everest in 1975. On the way towards her goal she resisted all adversities. At that time, a woman climbing the highest mountain contradicted all common conventions. In the same way, we aim for breaking with the common sense – for example that buying insurance and financial products has to be a tedious and inconvenient process. Inspired by the will and strength of Junko Tabei, we set ourselves the goal of eliminating obstacles for customers when buying or changing car insurances. In the coming year, we will extend our product range with more financial products.”
Ping An invested in finleap in 2018 and has had significant involvement in developing Joonko’s strategy and technology capabilities.
“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 digitalization 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.” – Donald Lacey, Managing Director and COO of Ping An’s Global Voyager Fund.
“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.” – Dr. Carolin Gabor, CEO of Joonko.