Balance Re receives Bafin approval

Tom Schmidtgen Tom Schmidtgen | 19.08.2021

In addition, life reinsurer from Cologne secures ten million US dollars in its Series A financing round.

Cologne-based insurtech Balance Re has received approval from the German Federal Financial Supervisory Authority (Bafin). This means that the life reinsurer is now allowed to launch. At the same time, the start-up announces that it has successfully closed its Series A financing round of ten million US dollars. The round is led by Anthemis Group, a London-based VC specializing in insurtechs. Also participating are Global Brain, one of Japan's largest VCs, and existing investors Roland Berger Industries and Talabot Finance from the US.

Balance Re offers life insurers reinsurance for retirement and savings products. The Cologne-based insurtech relies on technology and data-driven approaches to map risks in real time, for example. "Balance Re's insurance coverage is designed to help clients achieve their strategic goals while keeping their policyholders' interests in mind," said Matthew Jones, managing director at lead investor Anthemis. Balance Re plans to put the money from the Series A funding round into further developing its technology.


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