Target et al. back Finanzchef24's €4m round

Existing investors HW Capital and Mercura Capital recommitted. The money will be used to further develop the product portfolio. The startup claims its revenues and customer base have doubled year-on-year since 2012. Finanzchef24 and Grenke started a sales cooperation following the investment.

HW is the family office of Marcus Wohlsdorf and Robert Haselsteiner, the founders of mortgage service Interhyp. Via their investment company, the two seek to back finance-related startups. Mercura is also a family office and was formerly known as Schuler Beteiligungen.

Previous funding
Mercura joined existing investor Target in a €4m series-B funding round for Finanzchef24 in June 2014. Since its inception in early 2012, Finanzchef24 has been backed by HW. Target committed €2m to the company in January 2013 in a series-A funding round.

Company
Munich-based startup Finanzchef24 offers insurance products to small and medium enterprises via its online comparison site. On their homepage, customers can compare business insurance and subsequently buy insurance cover online.

Founded in 2012, 44 insurers offer their services via Finanzchef24.

People
Target Partners – Waldemar Jantz (partner).
Grenke Bank – Sven Noppes (member of the executive board).
Finanzchef24 – Hendrik Rennert, Felix Schollmeier (founders).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Venture
• Target Partners