23.06.2017 |
- FINABRO: online adviser for personal saving and investing
- Alternative to traditional savings and investment products
- UNIQA, now a shareholder, planning to develop new services in the future
UNIQA Insurance Group AG (UNIQA) has acquired a €400,000 stake in Austrian fintech company FINABRO. This is now the fourth start-up company in its portfolio, following the acquisition of holdings in Fragnebenan.at, a neighbourhood social network; Fincompare, an SME funding platform; and INZMO, an insurtech company that sells insurance policies via mobile devices and online portals.
“UNIQA decided to partner with FINABRO because they focus on Generations X and Y, precisely the target groups that are especially attractive to insurers but who are becoming harder and harder to reach using traditional methods,” says Thomas Polak, UNIQA’s Chief Innovation Officer, explaining the investment. With its cutting-edge applications and state-of-the-art interfaces, FINABRO offers modern-day, Web-based options for saving and investing. According to Polak, “Simple, affordable and attractive solutions for savers and investors via online channels — that’s the kind of thing we want to be actively involved in.”
“With UNIQA being one of the leading insurance companies in Austria as well as the CEE countries, we have found an ideal partner for FINABRO,” says founder Sören Obling. “We were impressed with UNIQA’s online vision, and we are excited to help shape it.”
UNIQA made its current investment of €400,000 during the firm’s first-round financing, which brought in a total of €600,000. As the next step, the company plans to work with the start-up to develop new services and offerings in the future.
About FINABRO
FINABRO was established in 2016 by Sören Obling and Oliver Lintner. The founders have many years of experience in the worlds of finance and technology in Europe and America. Thanks to its innovative approaches, FINABRO helps its customers build savings and offers first-class asset management with active, professional risk management, something previously reserved for private banking customers.
www.finabro.at
UNIQA
The UNIQA Group is one of the leading insurance groups in its core markets of Austria and Central and Eastern Europe (CEE). Around 20,000 employees and exclusive sales partners serve over 9.6 million customers in 18 countries. UNIQA is the second-largest insurance group in Austria with a market share of more than 21 per cent. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. The UNIQA Group also includes insurance companies in Switzerland and Liechtenstein.