Finleap takes a jump with €41.5m Ping An investment
Ping An, a Chinese financial services firm, is the world’s largest insurance company by market capitalisation.
Finleap launched four years ago and has created an “ecosystem” of technology companies, digital offerings and partners.
Jonathan Larsen, Ping An Group chief innovation officer, comments: “Ping An expects that Finleap will be able to build meaningfully on its many existing accomplishments and play an even more prominent role in the disruption of traditional financial services models across Europe.”
Ping An joins the likes of Hannover Re, Signal Iduna, NIBC, MS & AD Ventures and SBI, who have all invested in Finleap.
The capital will be used for the development of new technologies and companies as well as further geographic expansion.
Finleap also intends to invest further in its fintech platforms, Finreach solutions and Infinitec solutions, which facilitate the creation of new digital solutions.
Donald Lacey, managing director and chief operating officer of Ping An Global Voyager, will become chairman of Finleap‘s advisory board.
Lacey says about the investment: “In Finleap, we see a focused and high-quality company builder that has the ability to accomplish great things with an infusion of more capital. Our ambition is to help Finleap accelerate the development of new ventures across Europe by making use of Ping An‘s significant in-house technology capabilities, particularly in artificial intelligence (AI) and blockchain.”