Eli Global to Acquire Lead Generation Marketplace Finanzen
Eli Global LLC (“Eli”) today announced that an affiliate has entered into a definitive agreement to acquire finanzen.de AG and its subsidiaries (collectively, “Finanzen” or the “company”) from Blackfin Capital Partners (“Blackfin”) and Finanzen’s founders.
Based in Berlin, Germany, Finanzen is the leading European online marketplace for retail customer leads in the finance and insurance sectors. The company connects lead generators such as online price comparison sites with lead buyers such as independent financial advisors and insurance agents. The company also acts as an online broker for certain insurance products.
“Finanzen has done an impressive job creating a scalable technology platform poised to benefit from industry trends,” said George Luecke, global manager of Eli’s newly established insurance services portfolio and co-CEO of Global Bankers Insurance Group, which represents Eli’s life and annuity carrier division (“GBIG”). “We look forward to a long-term future with the company and its talented team.”
Dirk Prössel, Finanzen’s CEO, commented, “We are pleased to have found such an experienced and suitable partner in Eli. Their strong global footprint can support the ongoing growth of our business model and our ambitious national and international goals.”
“We are delighted that Finanzen will be able to continue its successful international rollout with the support of its new shareholders,” offered Laurent Bouyoux, founding partner of Blackfin.
Finanzen is the first company within Eli’s insurance services portfolio. “Our plan is to substantially grow this portfolio and the companies within it,” continued Luecke. “We are in the process of making key hires to accelerate the build out.” The portfolio will pursue a diversified mix of insurance services and other financial services, and seeks to span various sectors and subsectors within each arena. The insurance services portfolio is separate and independent from GBIG, and synergies with GBIG are not a required element of its investment thesis.
This transaction also marks Eli’s first in Germany, shortly after opening its Munich office in September 2017. The transaction, a portion of which is subject to regulatory approval, is expected to close later this year. Allen & Overy served as legal counsel and Ebner Stolz as financial advisor to Eli. GCA Altium acted as financial advisor to Blackfin. Gütt Olk Feldhaus served as legal counsel to Blackfin.
Terms of the transaction were otherwise not disclosed.
About Finanzen. The Berlin-based Finanzen Group is the No.1 European B2B digital marketplace for insurance and finance customers, operating currently in four European countries. Its sophisticated technology-enabled marketplace procures about one million online generated leads per year to more than 6,000 insurance experts and financial consultants. www.finanzen.com
About Eli. Headquartered in Durham, North Carolina in the USA, Eli Global is wholly owned by its founder and employees. Formed in 1991 and operating for over 25 years, Eli is a federation of independent portfolios comprising over 100 businesses that together employ more than 7,500 bright minds and determined entrepreneurs. Eli’s portfolios operate in 18 countries and over 15 industries across the world, including healthcare, technology, insurance and financial services. Eli acquires for the long term, has never sold any of its businesses and will continue to invest globally in stable and growing companies and their teams. www.eliglobal.com
About BlackFin. BlackFin’s investment strategy focuses on asset-light businesses in the financial services & technology sector, across continental Europe. BlackFin operates as an active and influential investor, supporting successful management teams to take their businesses to the next level. BlackFin manages two financial services growth / buyout funds with aggregate commitments in excess of €600m. In addition, BlackFin is raising a €150m European fintech-focused Venture Fund. BlackFin Capital Partners is a fully independent firm, run by its four founding partners who have worked together as managers and entrepreneurs in the financial industry for decades. Altogether the team consists of 25 experienced professionals operating out of offices in Paris, Brussels and Frankfurt. www.blackfincp.com
Eli Deutschland GmbH
Dorian Garbe, +49 174 194 7692
Germany & EMEA M&A
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