YPOG advised the shareholders of Friendsurance on all legal and tax aspects in connection with the sale of the Berlin-based insurtech company to Cover Genius. The parties have agreed to maintain confidentiality regarding the purchase price. The transaction has closed with immediate effect.
Friendsurance is a Berlin-based digital bancassurance platform that enables financial institutions and insurance companies to seamlessly embed insurance protection into the banking experience. The company was founded more than a decade ago by Janis Meyer-Plath, Sebastian Herfurth and Tim Kunde and has since built deep networks with European banks and extensive regulatory expertise across the DACH region. Friendsurance's bank-grade technology leverages PSD2 open banking rails and is designed to meet the requirements of the GDPR.
Cover Genius is a globally operating provider of embedded protection infrastructure, covering more than 73 million customers worldwide across 240 million policies in more than 60 countries. Its partners include companies such as Klarna, Revolut, Stripe, Booking.com and Uber. Through the acquisition, Cover Genius combines its global reach and infrastructure with Friendsurance's local technology and regulatory expertise to provide European banks with a protection infrastructure that is compliant and fully optimized. The entire Friendsurance team will join Cover Genius as part of the transaction.
"Friendsurance has spent more than a decade building a technologically mature platform and a strong network of European financial institutions. We are delighted to have advised the shareholders on this transaction", says Dr. Martin Schaper, Partner at YPOG.
Team
Dr. Martin Schaper (Lead, Transactions), Partner, Berlin
Pia Meven (Transactions), Associated Partner, Berlin
Dr. Oliver Junk (Transactions), Associated Partner, Köln
Anja Schindler (Transactions), Senior Associate, Berlin
Charlotte Petrasch (IP/IT/Data Protection), Associate, Berlin
Jörg Schrade (Tax), Partner, München
Dr. Jacob Schreiber (Tax), Senior Associate, Munich
Ninetta Kleindienst (Tax), Associate, Munich
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YPOG stands for You + Partners of Gamechangers. As a leading law and tax firm, YPOG supports founders, investors, companies and funds in Germany and internationally in bringing visionary ideas to life in the tech ecosystem and dynamic future markets.
YPOG advises on the structuring of venture capital and private equity funds, financing rounds and complex transactions, as well as on regulatory and tax matters relating to digital assets and financial innovation. As a strategic partner, YPOG develops practical solutions of the highest legal standard.
The firm combines legal and tax expertise with legal tech, digital workflows and AI-based systems to provide efficient and scalable advice.
YPOG and its professionals are regularly recognised by JUVE, Chambers and Partners, The Legal 500, Best Lawyers and Leaders League. More than 380 lawyers, tax advisers, tax specialists, one notary and business professionals work for YPOG across its offices in Berlin, Cologne, Hamburg and Munich.
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