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ELEMENT Insurance AG raises EUR 23 million in Series A round and wins new renowned investors

ELEMENTInsurance AG raises EUR 23 million in Series A round and wins new renownedinvestors


·      EUR 23 million in new investment for ELEMENT

·      SBI Investment, SBI Insurance Group, Engel& Völkers Capital and Alma Mundi Ventures are among the investors

·      Existing shareholders finleap and SIGNAL IDUNAre-invest


Berlin, 29November 2018 – ELEMENT, the leading white-label product factory for insurance,has successfully completed its Series A financing round with EUR 23 million innew capital. Among the international investors from insurance, real estate andfinance sectors are SBI Investment, SBI Insurance Group, Engel & VölkersCapital, and the Spanish Insurtech investor Alma Mundi Ventures. Investment wasalso secured from SIGNAL IDUNA and company builder finleap, which had alreadybacked ELEMENT in the seed financing round.


The newcapital will allow ELEMENT to expand its technological platform. Supported bythe investments and a strengthened network, the Berlin-based technology companywill tackle its first international markets.


‘Oursuccess as white-label product factory has convinced the investors to back thegrowth of ELEMENT. The future in insurance, just as in many other industries,is collaboration: highly specialised market participants that focus on parts ofthe value chain’, says Christian Macht, Chief Representative of ELEMENT. ‘Thenew capital supports the development of our technological platform and theautomation of relevant functions. This will enable us to implement newinsurance products even faster. In 2019, we will expand into new industries andenter our first international markets.’


This year,ELEMENT successfully established itself as a supplier of fully-digitalinsurance products: ELEMENT provides other companies from various industrieswith white-labelled products, which they market under their own brands. Thanksto the innovative technology, ELEMENT already implemented products for overfifteen partners in record speed.


Examples ofthe currently available insurance solutions powered by ELEMENT includeVersicherung09, a tailor-made combination of homeowner’s and liabilityinsurance for German football fans in cooperation with insurance group SIGNALIDUNA, a flight delay insurance with air rights specialist FairPlane, cyberinsurances and warranty extensions. The company’s fully digital approachensures the swift development of bespoke insurance policies even for veryspecific target groups in a matter of weeks. With a full insurer license in 28European countries, ELEMENT can act as risk carrier for its partners and covermost of the insurance value chain.




Aboutthe investors


Engel& Völkers Capital AG

Engel &Völkers Capital AG is an independent investment and asset manager for realestate investment. The main area of business is the structuration andsyndication of investments and related asset management for institutional andprivate investors. The emphasis is on the funding of construction projects andsites for real estate developers via institutional specialised investmentfunds. As part of strategic investments, Engel & Völkers Capital AG acts asventure capital investor. Additionally, the crowd investment platform of Engel& Völkers Capital (www.ev-capital.de) offers private investors thepossibility to invest side to side with institutional investors. The emphasisis on the funding of construction projects and sites for real estate developerswith volumes from EUR 1m to EUR 50m.



AlmaMundi InsurTech Fund

Alma Mundi InsurTech Fund combines the best of a Venture Capital firmwith the experience and opportunities tighten to big insurance corporations. Asa matter of fact, Alma Mundi is managed by a team with more than 40 years ofcombined experience in Venture Capital and is backed by two of the biggestinternational European Insurance companies. Hence, Alma Mundi InsurTech Sensorfund guarantees the independence and protects the startups from potentialconflicts of interest, while opening the door to the industry experience andcollaboration opportunities brought in by the insurance companies behind it.



SBIInvestment / SBI Insurance Group

SBI Investmentis a venture capital company in the SBI Group, recognized as a pioneer inFintech and internet-based financial services in Japan. It has been activelyinvesting in promising start-up companies inside and outside Japan in sectorssuch as AI and blockchain, including the Fintech sector, which is beingcarefully watched globally, as well as the IoT, robotics, and the sharingeconomy, which have close links to these technologies. It will continue to actively developnext-generation industries and enhance the enterprise value of the venturecompanies in which it invests.


SBIInsurance Group (SBIIG) is a holding company which takes control of insurancebusiness in the SBI Group. Through its 5 subsidiaries, SBIIG is continuouslypursuing innovations in insurance products and services adopting cutting-edgetechnology so that it can appropriately meet various emerging needs ofcustomers.




The SIGNALIDUNA Group (www.signal-iduna.de) traces its origins to small health and deathbenefits funds, founded by craftsmen in Dortmund and Hamburg over a hundredyears ago. Today, SIGNAL IDUNA offers the complete spectrum of insurance andfinancial services for all target groups. The group of unified companies takescare of more than 12m clients and contracts with a revenue of about EUR5.6b.  




finleap isa fintech company builder, based in Berlin and with an office in Milan. Foundedin 2014 by HitFox Group and Ramin Niroumand, finleap has already developed 16ventures with its infrastructure and made market entry possible. These includecompanies such as solarisBank, the first banking platform with a full bankinglicense, ELEMENT, a fully digital insurer, PAIR Finance, a provider ofdata-based receivables management, and the B2B2X fintech platforms, finreachsolutions and infinitec solutions, for contextual finance. finleap providesaccess to seed capital, a network of investors and experienced entrepreneurs aswell as customers and top talents. finleap's investors include Ping An, theworld's largest insurer, and Hannover Re, the world's largest reinsurer. Thefinleap group employs around 700 people from 60 countries.  




ELEMENTInsurance AG is the leading white-label product factory for insurance and aleader in insurance digitalisation. It is the first young company licensed bythe German Federal Financial Supervisory Authority (Bundesanstalt für Finanzaufsicht) as a direct insurer for non-lifeinsurance, which enables ELEMENT to act as a risk carrier, including claimssettlement, in 28 countries across Europe. Founded in March 2017, ELEMENToffers a unique technology platform (‘Insurance as a Platform’) with a focus onthe B2B2X value chain: ELEMENT develops for its partners from variousindustries – from e-commerce to established insurers – custom-made, innovative white-labelinsurance products at record speed. These products are then marketed by thepartners under their own brand. ELEMENT has its headquarters in Berlin andoperates across Europe.




SebastianSchleicher | Senior Communications & PR Manager

+49 (152) 0132 74 42 | sebastian.schleicher@element.in

ELEMENT Insurance AG | Hardenbergstraße 32 | 10623 Berlin |Germany