Finleap sells its FinanceAds shares

The start-up builder is parting ways with the joint venture, according to a media report. FincanceAds founder Ralf Fischer is taking over the shares.

Berlin-based company builder Finleap has sold its minority stake in FinanceAds, Finance Forward

reported. The company owned 45 percent stake in the joint venture. The shares will be taken over by the founder of the affiliate network Ralf Fischer. Nothing was disclosed about the amount of the purchase.

FinanceAds helps banks and insurance companies with marketing and new customer acquisition. The service includes, among other things, a comparison calculator. Just in March, the company amicably parted ways with long-time managing directors Stephan Boos and Hakan Özal. David Abebe has been managing the business on an interim basis since March.

The start-up was recently able to generate black figures. In 2019, a profit of 700,000 euros remained. Allerdingly, the affiliate specialist was not Finleap's top priority, reports Finance Forward.

Finleap's investments include Solarisbank and insurance broker Clark.

Finleap is pushing ahead with a strategy shift. The workforce has already been cut from 80 to 15 employees. The two board members Birte Sewing and Florian Resatsch had to leave Finleap less than a month ago.