Frankfurt Has It’s First Unicorn Startup
- Jörn Menninger
- Dec 21, 2021
- 4 min read
Updated: 1 day ago
Insurtech Clark becomes Frankfurt's first unicorn after acquiring Finanzen.de in a shares and cash transaction with Allianz X
What Is This About?
Insurtech Clark becomes Frankfurt's first unicorn startup after acquiring Finanzen.de in a shares-and-cash transaction with Allianz. This article covers how the insurance technology company reached billion-dollar valuation status and what this milestone means for Frankfurt's growing startup ecosystem.
Insurtech Clark becomes Frankfurt's first unicorn after acquiring Finanzen.de in a shares and cash transaction with Allianz X 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 our coverage of 🦄 DACH Unicorn Index: The Ultimate Guide to Billion-Dollar Startups in Germany, Austria, and Switzerland.
Executive Summary
Clark
Clark.de is an insurtech, helping its retail clients to keep track of their insurance policies. They also recommend different policies, as soon as their algorithms realize that a client can save money. They have been seen as a local hero of the Frankfurt startup scene for quite some time. The startup was founded in Berlin in 2015, but soon started the bulk of its operations in Frankfurt. Christopher told us in one interview that they had only a mailbox in Berlin for quite some time. Now they maintain a presence in Frankfurt and Berlin. We kept track of them since 2017 and you can learn more about the founder and the startup ideas in the two interviews, we will post below. In January 2021 we had them in our interview, talking about their 85 mn US$ fundraising.
Clark Transaction
The valuation of Clark comes not from a normal cash investment from a VC, but a mostly shares transaction. On Tuesday, November 9th, 2021 they announced the transaction that made them a unicorn. They bought the website finanzen.de (yes, finance.de) from the venture capital arm of insurance giant Allianz, called Allianz X.
Clark paid in their own existing shares, as well as in newly generated ones. As part of the transaction, existing investors (Portag3 Ventures, White Star Capital, Yabeo, Finleap, and Tencent) and Allianz X also invested cash. The different parts of the transaction have not been disclosed, but we know that Allianz X is now the largest minority stakeholder in Clark. The investors valued the newly combined Clark at more than 1 bn US$ (according to FAZ).
There is no public statement neither from Clark nor one of their investors confirming the valuation.
Interviews With Clark’s Founder Christopher
You can learn more about the founder in our interviews here.
Here is the audio and video interview from January 2021
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The Interviewer
This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:LinkedInTwitterEmail
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Key Takeaways
Clark.de is an insurtech, helping its retail clients to keep track of their insurance policies.
This article covers a significant development in the DACH startup and venture capital ecosystem.
The DACH region (Germany, Austria, Switzerland) continues to be one of Europe's most dynamic startup markets.
Atomic Answer
Quote Highlights
Insurtech Clark becomes Frankfurt's first unicorn startup after acquiring Finanzen.de in a shares-and-cash transaction with Allianz X.
Clark's unicorn valuation came not from a normal VC cash investment but from a mostly shares transaction announced on November 9th, 2021.
The acquisition of Finanzen.de marks a significant milestone for Frankfurt's growing startup ecosystem.
Clark's path to unicorn status demonstrates how insurtech companies in Germany are reaching billion-dollar valuations through strategic acquisitions.
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Frequently Asked Questions
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Insurtech Clark becomes Frankfurt's first unicorn after acquiring Finanzen.de in a shares and cash transaction with Allianz X
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Joern Menninger is the host of the Startuprad.io podcast and covers founders, investors, and policy developments across the DACH startup ecosystem.
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About the Host
Joern 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.
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