Most of the financing was raised by existing investors, including Deutsche Bank, which holds just under 20% of the Frankfurt financial startup. In order to generate income through insurance sales, Finanzguru took over “Volders Versicherungsvermittlung”, which previously belonged to the Germany-based fintech Volders. Later, a cooperation with the JDC Group, a broker pool that maintains interfaces to over 200 insurance companies was announced.
The aim is to offer financial products, for example in the area of financial investments. In mid-December 2021, the “Finanzguru ETF Invest” roboadvisor was launched in cooperation with the Deutsche Bank subsidiary DWS. Finanzguru also offers its own debit card, as well as offering the brokerage of electricity and gas tariffs. In 2022, Finanzguru plans to register with the financial supervisory authority as a payment initiation service in order to be able to carry out transfers for customers.
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