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This German SaaS raises €2.2M to help companies manage pension plans as easily as shopping online

Image credits: Degura

Degura, a Berlin-based fintech SaaS platform transforming pension plan solutions, has secured €2.2M in a Seed funding round led by Swiss VC firm btov Partners (also backed SumUp and Chattermill).

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). 

The German startup will use the funds to expand its core team and further upscale its digital services.

Managing pension plans

Founded in 2018 by Stephan Hille, Christian Witte, and Jannik Schmid (experienced executives and managers from both the insurance as well as digital business space), Degura offers a digital B2B / B2C portal solution for managing company pension plans (bAV). 

“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 adequate for retirement – neither in Germany nor in the rest of Europe, we see an imminent need to help employees plan their financial future. 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,” says Christian Witte, CEO of Degura GmbH. 

The European fintech makes company pension plans easy-to-use, and transparent. Using its cloud-based software solution, Degura simplifies discovering, offering, and managing employer pension plans (bAV). 

Further, Degura connects employees, employers, and insurance companies over its portal without a traditional broker and believes its solution can save HR departments up to 80 percent of the time they would usually spend offering and managing company pensions.

Besides, Degura also provides a wide range of consultation services to its customers regarding company pension plans in general. 

Currently, the company works with over 120 companies, including Amorelie, Dental21, Adjust, McMakler, Contipark, and apetito. More than 15,000 employees are serviced through their 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 than a younger generation is coming to expect. We are very proud to support the team and their mission of closing Europe’s pension gap”, said Jochen Gutbrod, Partner at btov Partners.

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