Media for equity investment: SevenVentures secures 14 per cent of FRIDAY
Munich, 7th March 2019 – SevenVentures, media investor of the ProSiebenSat.1 Group, has acquired around 14 percent of FRIDAY, Germany's leading digital insurance company, as part of its Media for Equity business. The total media volume invested amounts to a double-digit million Euro sum. In return FRIDAY can now advertise its insurance products in the high-reach and target-group-specific environments of the ProSiebenSat.1 Group. Majority owner Baloise Group, which is behind the establishment of FRIDAY, will invest an additional €75 million. An additional media investor is German Media Pool. The financing round was based on a three-digit million Euro amount. Equipped with a European insurance licence, FRIDAY offers an innovative insurance service which was awarded the title "Test Winner 2018" by Stiftung Warentest. The Berlin-based company has successfully acquired over 45,000 new customers for its car insurance products since its foundation in 2017. The digital insurer has been working with the ProSiebenSat.1 Group already for two years. "By opening FRIDAY to new investors, we are taking the next step with partners who already know FRIDAY well and support us in scaling. We are pleased to have won these trusted partners as investors," says FRIDAY CEO Dr Christoph Samwer. Florian Pauthner, CEO of SevenVentures: "An investment in the field of digital insurance offers considerable potential. FRIDAY has achieved significant success in a billion-dollar market in a very short space of time. With a customer-oriented product development the team has modernised processes and optimised the customer experience. We are convinced that with our media investment and comprehensive know-how, we will quickly build the brand, generate trust in the market and continue to drive FRIDAY's growth. Initial TV campaigns have achieved excellent results.“ About SevenVentures SevenVentures is the leading global TV media investor with core markets in Europe, USA and Asia. As the investment arm of the ProSiebenSat.1 Group, SevenVentures is the ideal partner for high-growth B2C companies, particularly in the consumer goods, retail and services industries, who have the potential to achieve sustainable success by launching TV advertising campaigns. Zalando is the perfect example of how companies can take advantage of this to become market leaders or popular brands. Our current customer portfolio includes AboutYou, Casper and tink. SevenVentures also supports enterprises seeking international growth with media power, capital and all other services of the ProSiebenSat.1 Group. In cooperation with the Group network, comprised of leading European media companies, we always find the right growth strategy. About FRIDAY FRIDAY was founded in Berlin in 2017 with the support of the Swiss Baloise Group, by an experienced team under the leadership of Christoph Samwer. FRIDAY has been an independent insurance company since May 2018. With its European insurance license, modern technology and digital solutions, FRIDAY is changing the insurance customer experience. FRIDAY Insurance S.A. is the risk carrier and subject to oversight of the Commissariat aux Assurances in Luxembourg, under limited supervision of the Federal Financial Supervisory Authority (BaFin). The company is majority held by the Swiss Baloise Group. The Swiss insurance group, headquartered in Basel, has approximately 7,300 employees. Shares of Bâloise Holding AG are listed on the main segment of the SIX Swiss Exchange.