Blackfin Capital Partners have agreed to sell online marketplace for customer leads Finanzen to Eli Global.
The details of the transaction were not disclosed; however, Finanzen’s founders are also selling their stakes.
Germany-based Finanzen is a European online marketplace for retail customer leads in the finance and insurance sectors. The B2B marketplace uses online comparison to help insurers and financial institutions find new leads each month.
Finanzen is currently used in Germany, France, Switzerland and the UK, and helps to generate around 90,000 new leads a month. The company can also act as an online broker for insurance products.
Through the acquisition, the company hopes its can further its national and international growth goals.
Eli global manager of the insurance services portfolio George Luecke said, “Finanzen is the first company within Eli’s insurance services portfolio. Our plan is to substantially grow this portfolio and the companies within it. We are in the process of making key hires to accelerate the build out.”
This acquisition also marks Eli’s first investment in Germany, having just opened its Munich office late last year.
Last year, Blackfin held the €100m first close of its FinTech focused venture capital fund. It is unclear if the firm is still raising capital for the vehicle.
This fund has already been tapped to make a FinTech investment, with Blackfin taking part in FRISS’ €15m Series A round late last year. The company provides analytics for fraud, risk, and compliance to P&C insurers.
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