Funding will be used to further scale its Pension Cloud - the fastest-growing digital Platform for Company Pensions in the EU
- Seed round led by leading VC firm btov Partners
- State pensions in Europe do not adequately provide for retirement, that is why Degura is working to close the "pensions gap" by offering the first truly digital solution for managing company pension plans
- By enabling employees to build their own financial future, Degura offers outsized value to employers looking to turn company pensions into a real advantage in the ever so crucial "war for talent"
Berlin, February 8th, 2023 – Degura, a FinTech startup building the first truly digital solution for offering and managing company pension plans, has closed a EUR 2.2M Seed-Round to further scale its product.
The funding round was led by Early-Stage VC firm btov Partners. In addition, prominent Angel Investors joined the round, including Dr. Patrick Dahmen, (former AXA and HDI Executive) and Dr. Gerhard Cromme, as well as logistics platform founders David Nothacker, Nicolaus Schefenacker and Julius Köhler (sennder). btov Partners has a track-record for supporting promising young FinTech companies that become tech champions, such as SumUp and Raisin, as well as ClimateTech stars such as 1Komma5° and Cologne’s very first Unicorn, the AI-based language translator DeepL.
Fintech Degura: Making Company Pensions contemporary
Degura makes company pension plans easy-to-use, transparent and offers the only solution that is digital-first through every step of the process. With its unique cloud-based software solution tailored to both B2B and B2C, the company makes discovering, offering and managing company pension plans (bAV) as easy as online shopping. Degura connects employees, employers and insurance companies over its own portal without the need for a traditional broker, ensuring the best user experience and seamless integration.
"The process of setting up and managing Company Pensions is painstakingly complex and not geared toward the end-customer at all. At a time when it is obvious that state pensions alone will not provide adequately for retirement - neither in Germany nor in the rest of Europe, we see an imminent need to help employees plan their financial future" , Christian Witte, CEO Degura GmbH.
"That’s why we have built our product with the end-customer in mind, helping ensure that citizens across Europe have access to company pension schemes as easily as possible. We’re beyond gratified to have such renowned investors on board to help us build the leading digital Company Pension platform in Europe."
Pension Cloud as a digital experience
Founded in 2018 in Berlin, by experienced executives and managers from both the insurance as well as digital business space, Degura has shown impressive traction and is trusted by Startups, Scale-Ups to Fortune-500-Companies. Already more than 120 companies trust Degura, e.g. Amorelie, Dental21, Contipark, apetito and many others. More than 15.000 employees are serviced through Degura`s digital pension cloud.
"Over the last few years, the FinTech revolution has made private pension provisions and investment opportunities more accessible via neobrokers and robo-advisors. Yet a very important component of our pension system has been neglected: Company Pension Provisions (Betriebliche Altersvorsorge). Degura’s Pension Cloud not only makes the life of employers easier but also offers employees a digital experience with less friction and more choice that a younger generation is coming to expect. We are very proud to support the team and their mission of closing Europe's pension gap" Jochen Gutbrod, Partner at btov Partners.
Company pension: a real benefit in the so-called "war for talent"
Choosing Degura’s Pension Cloud, HR departments can already save up to 80 percent of the time they would usually spend offering and managing Company Pensions - e.g. by integrating with HR platform Personio. In turn, Degura supports a positive Employee Experience, strengthening Employer Branding and lowering Churn Rates, making Company Pensions a real advantage in the ever so crucial “war for talent”.
Degura will use the fresh funding to expand its core team, further upscale their digital services and reach key milestones on its path to completely digitizing Company Pensions.
About Degura
Degura GmbH was founded in Berlin in 2018 by Stephan Hille, Christian Witte and Jannik Schmid. As a boot-strapped FinTech SaaS startup, the company offers a digital B2B / B2C portal solution for managing company pension plans (bAV). The organization also provides a wide range of consultation services to its customers, not only in regards to the portal but also in regards to company pension plans in general. With both offerings, Degura GmbH transforms the entire bAV process and connects employees, employers and insurance companies directly, no traditional broker necessary.
About btov Partners
btov Partners is a European venture capital firm focusing on technology startups since 2000. btov’s community of entrepreneurial private investors provides it with unique expertise and supports the firm’s passion for discovering non-obvious businesses and promising founders. Its flagship Digital Tech fund focuses primarily on startups in the fields of data analytics, AI, fintech, SaaS, logistics, digital health, and digital marketplaces. With offices in Berlin, Zurich, Munich, St. Gallen, and Luxembourg, the company invests approximately EUR 100 million across Europe per year. The most well-known investments include SumUp, DeepL, Raisin DS, Facebook, Foodspring, ORCAM, Volocopter, and XING.
