Vincenz Klemm's new start-up apparently receives 3.5 million euros

The sale of his insurance start-up Gabi is said to have brought in 320 million US dollars. Now he is focusing on cyber security with Baobab.

According to the Berlin start-up Baobab Finance Forward received 3.5 million euros. The investors include venture capital fund Project A, investor La Famiglia, the Discovery Ventures fund, Clark founders Christopher Oster and Marco Adelt, Comtravo CEO Michael Riegel and fund manager Jan Beckers.

The company was founded by Anton Foth and Vincenz Klemm. Klemm only sold his insurance start-up Gabi, based in San Francisco, in November for an estimated 320 million US dollars. His former co-founder Hanno Fichtner has now apparently also invested in Baobab.

Baobab is to offer companies a solution for cyber security. The offering is also to include a risk assessment and insurance against attacks. The start-up's offering is set to be launched in the spring. The company wants to focus on data analysis and work with insurance companies instead of developing its own insurance offering. It is not yet known which ones these will be.