Fonds Finanz secures investment from Hg to enable further tech innovation and expansion as a leading financial intermediary pool across Germany
Munich, Germany. 10 December 2021: Fonds Finanz, a leading tech-enabled financial intermediary pool focused on the German insurance sector, today announces that is has secured a majority investment from Hg, a leading software and services investor.
Founded in 1996 and headquartered in Munich, Fonds Finanz serves more than 28,000 customers including brokers, distributors, insureTechs and banks across Germany. With a comprehensive software, advisory and service offering, Fonds Finanz gives customers access to a full-service platform, comprising products from more than 500 insurance and financial product vendors in Life, Health, Property & Casualty and Investment funds.
Hg brings to the partnership an extensive network across the insurance sector in Germany and the United Kingdom. Partnering with Hg will enable Fonds Finanz to further optimise the business, with an opportunity to enter several additional customer segments, and to acquire attractive businesses to further broaden the Fonds Finanz service offering and to drive innovation by acquiring complementary technology.
Co-founders Norbert Porazik and Markus Kiener, will continue to run Fonds Finanz and will lead the future development of the company. Both founders remain significant shareholders in the business. The terms of the transaction are not disclosed.
“This is another important milestone in Fonds Finanz’s over 25 years history. We warmly welcome the team from Hg. Together we see a significant opportunity to invest further to provide more customers, with more services, with better technology and across additional segments than has been possible previously.”
Norbert Porazik, co-founder of Fonds Finanz
“I’m really proud of all the colleagues who have worked so hard to put us into this great position as a business. The future is looking very bright for the Fonds Finanz team, and for our customers as we will be increasingly better positioned to service their needs. We’re thrilled to partner with Hg, an expert tech and service investor who can project us forward on this journey.”
Markus Kiener, co-founder of Fonds Finanz
“Fonds Finanz occupies a central position in the insurance eco-system across Germany. Over the last decade we’ve got to really know this sector and we instantly recognised Fonds Finanz as a high value-add channel for insurance companies. We’re really excited to support Fonds Finanz on its journey, not least because we think technology will play an ever increasing role for the business going forward.”
Benedikt Joeris, Director at Hg
+49 (0)89 15 88 15-380
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Fonds Finanz Maklerservice GmbH
Fonds Finanz Maklerservice GmbH is a leading financial intermediary pool in Germany. The Munich-based company operates nationwide and has more than 28,000 sales partners, 420 employees and 150 regional directors. In the 2020 financial year, Fonds Finanz generated a total revenue of EUR 192.5 million and a profit of EUR 7.1 million (earnings before taxes). Fonds Finanz offers comprehensive and multi-award-winning sales support for intermediaries in the areas of life, health, property, investment, tangible assets, property, banking products and construction financing – entirely free of charge. Founded in 1996, Fonds Finanz is a fully independent owner-managed corporation. Norbert Porazik and Markus Kiener are the owners and managing directors.
As per August 2021
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.