With its digital unit Brandpool, the Stuttgart-based financial group W & W plans to invest at least 20 million euros in startups this year. This said Brandpool CEO Daniel Welzer in conversation with founder scene. If the opportunity presents itself, W & W will provide even more money. “We are looking for both early-stage startups and strong consumer brands that have already built a customer base,” said Welzer. B2B business models are not relevant.
W & W is about understanding new business models
W & W (short for Wüstenrot & Württembergische) is about understanding new business models. Not only Insurtech and Fintech, but also Education, Proptech and Health were part of the investment focus of the company. Brandpool can also build up their own companies.
Some time ago, the group started its own digital insurance with Adam Riese
These already count 50,000 customers, according to Welzer. The company offers, for example, household contents and liability insurance. The startup competitor One Insurance recently spoke of 70,000 customers.
Together with BCG Digital Ventures, W & W also launched the online construction credit calculator Nist, and two years ago, the company also purchased the Insurtech app Treefin. The financial group also invested in the Berlin-based midwife start-up Kinderheldin and the pregnancy app Keleya.