New funding for financial knights

With a new investment from the portfolio investor, the insurtech now also wants to win insurance brokers as customers.

Digital insurance broker Finanzritter is getting new money from one of its existing investors. The offshoot of Reech Corporations Group, Odysseus Investments, is putting a seven-figure sum into the Iserlohn-based insurtech. "The great cooperation with Finanzritter over the past two years has been convincing. As an innovative start-up, Finanzritter recognizes the potential in the market and knows how to incorporate and implement it in the business model," said Christophe Reech, chairman of Reech Corporations.

Finanzritter now plans to use the new money to build an offering for insurance brokers in addition to its retail business. It is now launching the new Finanzritter Hybrid brand for this purpose. Brokers are to get phone service, app and marketing from Finanzritter. During the corona pandemic, Finanzritter had already opened its video chat server to other brokers for free.

Finanzritter was founded in 2016 by Florian Kümper, Sebastian Cordes and Till Sanders. The company plans to connect first insurance brokers in the second quarter of 2021.