Schumpeter Ventures is an early-stage venture capital fund that invests in start-ups in the FinTech, InsurTech and cyber security sectors, particularly in Germany. It is registered as a special AIF by BaFin and has access to a very renowned investor base. After the first closing on 1.11.2020, Schumpeter Ventures is still in the phase of further fundraising.
Schumpeter Ventures sees itself as a third-generation venture capital fund that clearly specializes in one industry, that actively supports the start-ups in their further development and that specifically leverages synergies between the start-ups. In addition, we have the claim to speak at eye level with our companies in terms of technology as well.
There are currently seven investments or business building approaches in four ecosystem clusters, to which up to five more can be added in the course of 2021:
- Property and liability insurance
- Hybrid financial distribution
- Cyber Security
The solutions of Schumpeter Ventures also find their way into the consulting of Broeskamp Consulting time and again and thus allow for a well-founded consulting offer that generates results quickly on the one hand. On the other hand, they create new sales channels for the start-ups.
At the heart of our ecosystem is Qundo with two complementary business model approaches:
- Know-your-Customer - this uses artificial intelligence to determine the identity of private individuals in a few seconds based on a photo of the passport as well as the person. With costs more than 50% lower, this procedure has the chance to replace the video ID procedure on a broad scale.
- Payment provider - Qundo is in the process of applying for an e-money license and will be able to independently offer virtual IBAN accounts, cards and internet payments on this basis from the beginning of 2022.
Taledo is a tender platform for applicants, a community portal as well as a software for the personnel management of companies. It offers further customer potential for Qundo as well.
Property and liability insurance
At the core of the ecosystem is EMIL Group AG, which offers a fully digital software platform for handling property and liability insurance. EMIL is suitable for the rapid launch of new products from established insurance companies, as a core system for small and medium-sized insurance companies with significantly reduced costs, and as a technical platform for the increasingly established insurance agency models.
Potential further investments are the underwriting models of Fresh Insurance and EMIL Direkt.
Hybrid financial distribution
At the center of our investment is mitNORM, a medium-sized dynamic financial distribution company with around 200 employees. Together, we are transforming it into a next-generation digital company. Core elements here are:
- Introduction of a new sales software that allows employees to generate a significantly higher turnover per customer with much less effort. Here, mitNORM's unique selling point, the DIN standard, is integrally integrated into the solution approach.
- Development of standard consulting, a franchise concept that makes mitNORM's business approach available to a significantly broader customer base.
- Conception and introduction of mitNORM24, where the customer can largely make his own product decisions regarding old-age provision, health insurance, property and liability insurance, investments and loans.
It goes without saying that mitNORM can also profit from and sell the new products of the other Schumpeter Ventures holdings.
AIR GmbH is working on a software solution for financial sales and fits seamlessly into the overall system.
In cyber security we rely on three components:
- Outstanding software solutions that solve specific, clearly defined issues in an outstanding way. These are software products that have usually been developed within the framework of long-term research projects. We are starting here with Secure Software GmbH, which is further developing and marketing the Vulnerability Scanner VUSC, which was developed by the Fraunhofer Institute SIT in Darmstadt (www.secure-software.io). We are in further talks with emproof GmbH, which includes an encryption solution developed by researchers at the Max Planck Institute in Bochum.
- A joint sales approach that bundles the marketing of different software products and thus creates synergies.
- A consulting approach as well as associated service models which, using the solutions outlined above, but also other world-leading solutions from the Israeli start-up scene, offers first-class, powerful solutions for our customers. We are bundling these activities in a newly created company "Cyber One" (www.cyber-one.io). Details can also be found under the Cyber Cluster in the context of Broeskamp Consulting.
The SV Team
The SV team combines experience, clout as well as technical expertise. Based on Dr. Udo Broeskamp's many years of consulting and industry experience, Birger Hechmann and Benjamin Meyer redesign economic eco-systems. The technical expertise results on the one hand from the cooperation with renowned research institutes and universities, and on the other hand from the integration of own as well as external start-up solutions.