Allianz Life Ventures and SixThirty have formed a strategic partnership to support InsurTech and FinTech startups.
This new multi-year deal will permit Allianz Life Ventures to mentor SixThirty portfolio companies, build networking opportunities and help with strategic planning. In exchange, these startups will gain access to Allianz’s expertise, financial resources and global partner network.
Part of this partnership includes Allianz Life vice president Brian Muench join the investment committee of SixThirty.
Missouri-based venture investor SixThirty backs between eight and 12 early-stage startups a year, from around the world. Alongside funding, companies receive mentorship, collaboration and networking. The firm has invested into 44 companies, to date.
Allianz Life vice president of strategy and business development Emily Reitan said, “With this partnership, we are excited to be able to mentor some of the most forward-thinking startups in the industry and help them overcome their unique challenges in order to grow and meet their goals. SixThirty’s diverse pipeline of FinTech and InsurTech startups will allow us to build strategic relationships and further drive innovation in the industry.”
Earlier in the year, Allianz Life Ventures invested into the $10m Series A round of digital life insurance platform Covr Financial Technologies. Through the solution, customers are able to research, compare and purchase insurance policies from various insurance companies.
The firm also took part in the $30m Series B round of digital life insurer Ladder, earlier in the year. It was joined by a number of other backers including Northwestern Mutual Future Ventures and Canaan Partners.
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