Two insurance companies are getting on board with fintech Comeco

Jan Schulte Jan Schulte | 11.03.2021

So far, the investors have included seven independent "Sparda" banks in addition to Sopra Steria. Now DEVK Versicherungen and Süddeutsche Krankenversicherung are also involved.

With its app TEO, Stuttgart-based fintech Comeco wants to link online banking and offers such as vouchers. DEVK Versicherungen and Süddeutsche Krankenversicherung (SDK) have now also invested. The two insurance companies will support the start-up in the further development of its multibanking app TEO. In addition to Sopra Steria, the group of investors to date includes seven independent Sparda banks.

TEO is available as a mobile app and, since summer 2020, also as a browser-based web application. Among other things, it includes multibanking, which allows users to merge all bank accounts and carry out transfers via the app. The "Financial Weather" function can be used to calculate which funds are still available until the next regular cash inflow. Features such as a contract and insurance manager are intended to create additional transparency about the overall financial situation. In addition, users can get discounted lifestyle vouchers from many brands and retailers via the app.

"Thanks to the new partners, we will soon be able to provide users with interesting insurance solutions and additional added value within TEO's digital ecosystem," said Stefan Bisterfeld, CEO of Comeco. "In parallel, we will also integrate new features into the TEO app."


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