Target Partners commits to Finanzchef24's series-B

Finanzchef24 plans to use the fresh capital to further expand its marketing activities and invest in its recently established Finanzchef Pro broker service.

Last month, Target completed a €4m series-B investment alongside Swedish VC Zobito in portfolio company Treasury Intelligence Solutions. It first invested €2.5m in the payments software-as-a-service platform in May 2011.

Previous funding
Since its inception in early 2012, Finanzchef24 has been backed by investment company HW Capital. Target committed €2m to the company in January 2013 in a series-A funding round. Finanzchef24 said it planned to use the capital for building the website and software.

Company
Headquartered in Munich, Finanzchef24 is an online insurance and banking product marketplace. It offers small businesses and self-employed operators a free service for comparing insurance options. The portal carries out risk analysis based on a series of questions that the user answers. Product options from 17 German insurance providers are available on the portal, while 740 business types are represented among the company's customer base.

The Finanzchef Pro broker service enables insurance brokers to run online comparisons of small business insurance product offerings in the liability and contents segments.

People
Waldemar Jantz is a partner at Target. Helmut Zahn is general manager of Mercura. Hendrik Rennert and Felix Schollmeier are the co-founders and managing directors of Finanzchef24.

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• Topics
• DACH
• Expansion
• Financials
• Germany
• Target Partners