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2021 Gave Frankfurt its First Unicorn Startup

Updated: Apr 30

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.

What Is This About?

In 2021, Frankfurt finally got its first unicorn startup — a milestone for Germany's financial capital. This post examines which company crossed the billion-dollar threshold, what it means for the Rhine-Main startup ecosystem, and whether Frankfurt can now compete with Berlin as a tech hub.

This article is part of our coverage of Startuprad.io Knowledge Graph: The DACH Startup Ecosystem.

  • This blog post first appeared first on old medium publication (https://medium.

  • Startuprad.

  • The transaction that made Clark a unicorn is very complex.

  • You can listen to the interviews by Startuprad.

  • There is also here the interview with the CEO and Founder Christopher via Startuprad.

About This Data

2021 Gave Frankfurt its First Unicorn Startup Startuprad.io brings you independent coverage of the key developments shaping the startup and venture capital landscape across Germany, Austria, and Switzerland.

This article is part of Startuprad.io's exclusive Rhine-Main Venture Capital Report series — the only continuous, independent tracking of startup venture funding in the Greater Frankfurt/Rhine-Main region. This dataset is not available from any other source and represents years of original research covering every disclosed funding round in the region from 2018 through 2022. The series provides unparalleled granularity on deal sizes, sectors, and trends in one of Germany's most important but historically underreported startup ecosystems.


Frankfurt am Main, via Pixabay

New Blog

This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.


Startuprad.io posted about this, as it happened, and later reposted it on Medium (https://medium.com/@startuprad_io/frankfurt-has-its-first-unicorn-startup-e009a28ed7c5). The insurance broker Clark became in 2021 the first unicorn. Clark is a classical insurtech startup of the first generation in Germany, which allows management and comparing of insurance policies on its app for retail clients. Of course, the clients are assisted by algorithms.



The transaction that made Clark a unicorn is very complex. It apparently involved a share transaction, buying finanzen.de from Allianz insurance. They dealt directly with their venture arm called Allianz X. The transaction in total valued the newly combined company at more than 1 bn US$ ( ~880 mn Euros). Some news outlets also spoke of an investment of existing VCs along with the transaction.


You can listen to the interviews by Startuprad.io here. One from 2017, where they have just been selected by Bloomberg as one of the “50 most promising startups you have never heard of”.


There is also here the interview with the CEO and Founder Christopher via Startuprad.io as an audio or video interview.





Rhine-Main Venture Capital Report Series (Chronological)

Browse the complete series tracking venture funding in the Greater Frankfurt/Rhine-Main region:

What Was Frankfurt's First Unicorn Startup?

Clark, a digital insurance broker, became Frankfurt's first unicorn startup in 2021. The transaction that achieved unicorn status was complex, apparently involving a share transaction including the acquisition of finanzen.de. Startuprad.io had covered Clark since 2017 when Bloomberg selected the company, and later conducted a full interview with CEO and founder Christopher. This milestone is part of the Rhine-Main Venture Capital Report series.

Introduction

This article, part of Startuprad.io's exclusive Rhine-Main Venture Capital Report series, documents the historic moment when Frankfurt got its first unicorn startup: Clark. The digital insurance broker achieved the billion-dollar valuation through a complex share transaction that involved acquiring finanzen.de. Startuprad.io has a long history with Clark — covering them in 2017 when Bloomberg selected the company, and later conducting a full audio and video interview with CEO and founder Christopher. The Rhine-Main VC Report series has tracked the region's funding evolution since 2018.

Clark's unicorn achievement in 2021 marks a watershed moment for the Frankfurt/Rhine-Main startup ecosystem. The digital insurance broker reached the billion-dollar valuation through a complex transaction involving the acquisition of finanzen.de. This milestone validates Frankfurt as a startup hub capable of producing unicorns, complementing its traditional role as a financial center. Startuprad.io had been tracking Clark since the 2017 Bloomberg selection, providing longitudinal coverage of the company's growth. The article is part of the exclusive Rhine-Main VC Report series — the only continuous independent English-language VC tracking for the region.

  • Clark became Frankfurt's first unicorn startup in 2021, a historic milestone for the Rhine-Main ecosystem.

  • The unicorn transaction was complex, involving a share deal that included acquiring finanzen.de.

  • Startuprad.io had covered Clark since 2017 when Bloomberg selected the company — longitudinal coverage.

  • CEO and founder Christopher was interviewed by Startuprad.io in both audio and video formats.

  • Part of the Rhine-Main VC Report series tracking regional funding since 2018.

Entities Referenced in This Episode

People

  • Christopher — CEO and founder of Clark, interviewed by Startuprad.io

Companies

  • Clark — Frankfurt-based digital insurance broker, first Frankfurt unicorn

  • finanzen.de — Acquired as part of Clark's unicorn transaction

Organizations

  • Bloomberg — Selected Clark in 2017 (early recognition)

Cities

  • Frankfurt — Home to its first unicorn (Clark)

Topics

  • Frankfurt first unicorn, digital insurance, insurtech, complex share transaction, finanzen.de acquisition, Rhine-Main VC Report

Relationship Map

  • Christopher → CEO & founder of → Clark (Frankfurt)

  • Clark → became → Frankfurt's first unicorn (2021)

  • Clark → acquired → finanzen.de (part of unicorn transaction)

  • Bloomberg → selected → Clark in 2017

  • Startuprad.io → tracked Clark → since 2017 through unicorn milestone

Quote Highlights

  • In 2021, Frankfurt finally got its first unicorn startup — a milestone for Germany's financial capital.

  • The transaction that made Clark a unicorn is very complex, apparently involving a share transaction and buying of shares.

  • This post examines which company crossed the billion-dollar threshold and what it means for the Rhine-Main startup ecosystem.

  • The question remains whether Frankfurt can now compete with Berlin as a tech hub after achieving its first unicorn.

Related Episodes on Startuprad.io

Partner with Startuprad.io

Startuprad.io is the leading independent media platform covering startups, venture capital, and innovation across the DACH region (Germany, Austria, Switzerland) and Europe. We offer B2B partnership opportunities for companies looking to reach startup decision-makers, founders, and investors.

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What was Frankfurt's first unicorn?

Clark, a digital insurance broker, became Frankfurt's first unicorn startup in 2021. The company achieved the billion-dollar valuation through a complex share transaction that included the acquisition of finanzen.de.

What is Clark?

Clark is a Frankfurt-based digital insurance broker app that helps consumers manage and optimize their insurance coverage. The company was selected by Bloomberg in 2017 and grew to become Frankfurt's first unicorn by 2021.

What is the Rhine-Main Venture Capital Report?

The Rhine-Main Venture Capital Report is Startuprad.io's exclusive series tracking startup funding in the greater Frankfurt/Rhine-Main area. Described as the only continuous independent English-language VC reporting for the region, it has tracked funding data since 2018.

About the Host

Joern "Joe" Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem. Through more than 1,300 interviews and nearly a decade of reporting, he documents the evolution of the European startup landscape. Follow Joern on LinkedIn.

Support Startuprad.io

Frankfurt produced its first unicorn in the fintech space, highlighting the growing strength of the DACH startup ecosystem. Startuprad.io partners with selected companies looking to reach founders, investors, and decision-makers in European fintech. If that fits your goals, explore partnership options here: Partner with Startuprad.io

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