Allianz picks up stake in Simplesurance

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Berlin-based fintech startup Simplesurance has won German insurance group Allianz as new investor.

The e-commerce provider will sell policies on behalf of Allianz in 28 European countries via customer portals and online marketplaces.

Allianz has acquired a minority stake in the business through the undisclosed investment.

Sylvie Ouziel, CEO Assistance of Allianz Worldwide Partners, said simplesurance is an ideal partner for Allianz as it complements the group’s international distribution efforts.

Simplesurance, which was founded in 2012, has developed a software solution that enables e-commerce shops to cross sell insurance products.

The company raised $8m in a Series B financing round last March. Route 66 Ventures backed the investment with Seed round-backer Rheingau Founders taking part in the new financing as well.

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