Germany-based financial products comparison portal Joonko has received €10m ($11m) in seed capital from insurance provider Ping An’s Global Voyager Fund and savings marketplace Raisin.
Joonko was formed by fintech company builder Finleap in partnership with Ping An earlier this year, initially under the name BetterChange. It aims to launch a platform by the end of 2019 through which users will be able to compare third-party financial products, beginning with car insurance.
Previous reports suggested a range of German insurance providers were also involved in the creation of Joonko, but no details have been confirmed. News of Ping An’s investment in Joonko follows the corporate’s $47.3m commitment to Finleap in November 2018.
Finleap typically provides up to €5m in funding for its startups, but it is unclear whether it has invested in Joonko. Its portfolio also includes digital banking platform SolarisBank, which closed a $70m series B round backed by corporates including Visa and Bertelsmann in March 2018.
