FINANZCHECK closes €33M Series C with HarbourVest, Acton Capital Partners, and existing investor Highland Europe
6 April 2016
FINANZCHECK closes €33M Series C with HarbourVest, Acton Capital Partners and existing investor Highland Europe.
Germany’s #1 consumer loan technology platform closes its series C with renowned lead growth investor HarbourVest joined by Acton Capital Partners and Highland Capital. FINANZCHECK, founded in 2012, offers an online B2C marketplace as well as B2B2C white label and B2B consumer financing technology solutions for brokers and banks. Since inception, the Hamburg based company grew 150% year over year and has brokered more than € 1.3bn in consumer loans. The growth financing puts the Hamburg-based FinTech Company in pole position in Germany’s €70bn consumer loan market enabling accelerated growth and further diversification towards market leadership.
Since 2012 FINANZCHECK has offered an online B2C marketplace where German consumers can compare loan products from more than 35 banks in real-time. FINANZCHECK.de gives the customer complete visibility on all loans available, saving valuable time and enabling the consumer to make an informed choice. FINANZCHECK covers the complete value chain from customer acquisition to credit scoring and ultimately contract signing. This highly efficient process is enabled by FINANZCHECK’s deep integration with the IT platform of each bank enabling a comprehensive price comparison in real-time. The Hamburg-based FinTech company employs more than 120 product, tech and sales experts and is run by Moritz Thiele and Andreas Kupke.
In 2015, FINANZCHECK further developed its extensive technology platform to provide consumer financing technology solutions for brokers and banks. Today the company already is generating a substantial portion of its revenue from such B2B collaboration. “We built FINANZCHECK to address customer needs in the consumer loan market and will continue to enhance our technology and product offering with a view to delivering the best consumer finance platform in Germany. Our ultimate goal is to be the engine for the consumer finance ecosystem in Germany,” outlines Moritz Thiele, founder and CEO.
The long-term vision of the management team is evident: clear market leadership in Germany within the online consumer finance sector. The vision is supported by a strong, long-term oriented strategy and a keen focus on consumer loans. FINANZCHECK now is enhancing their strong existing shareholder base with the addition of HarbourVest Partners, a global private equity firm with more than $39 billion of assets under management, and Acton Capital Partners, one of Germany’s leading growth investors. The investment will enable the company to accelerate its growth. With such deep pockets, FINANZCHECK is well positioned to pursue value-enhancing acquisition opportunities in its core market. “We are excited about our investment in FINANZCHECK,” says Peter Lipson, Managing Director of HarbourVest. “This substantial initial investment will enable the company to continue to offer new and more compelling solutions for both the banks and the consumers. Furthermore, we have assembled an investor base that is ready to invest additional capital when compelling opportunities arise.”
Since its inception, FINANZCHECK already has brokered more than €1.3bn in consumer loans with 150% growth year over year. “We are in the early days of enabling and improving an existing €70bn market. Only 10% of consumer loans are sourced and processed online and with our in-depth technology and product expertise, as well as prolific growth trajectory, market leadership is within our grasp,” adds Christoph Braun, Managing Director of Acton Capital Partners.
“We have co-invested with HarbourVest in Photobox and VistaPrint, and with Acton in MyOptique – three very successful companies and clear European market leaders. Bringing the same investor team together once again to build another big company is simply fantastic and bodes well for the future of FINANZCHECK!” says Fergal Mullen, Founder and Partner of Highland Europe. “We welcome Peter Lipson and Christoph Braun to our advisory board”. Highland Europe invested in FINANZCHECK in early 2015.