European fintech company builder finleap has raised €41.5m in a new funding round led by Chinese firm Ping An‘s Global Voyager Fund.

With this investment, Ping An, which is one of the largest insurance companies in the world, joins Hannover Re, SIGNAL IDUNA, NIBC, MS&AD Ventures and SBI as strategic investors of the company.

The move also marks Ping An Global Voyager Fund’s first investment in continental Europe.

finleap founder and CEO Ramin Niroumand said: “Since our launch four years ago, we have been transforming the financial industry in Europe with our unique ecosystem of technology companies, digital offerings and partners.

“We are delighted to welcome Ping An to finleap and are enthusiastic about our potential to work together to accelerate the digital transformation of Europe‘s financial services landscape.”

Following the investment, Ping An Global Voyager managing director and CEO Donald Lacey will assume the role of chairman of finleap‘s advisory board.

What will finleap do with the funds?

finleap intends to use the money to support its growth in new geographic locations as well as develop new technologies.

Additionally, it is planning to make further investments in its finreach solutions and infinitec solutions.

The two offerings are designed to enable its clients develop new fintech solutions and offer digital financial services to the customers.

Lacey said: “In finleap, we see a focused and high quality company builder that has the ability to accomplish great things with an infusion of more capital.

“Our ambition is to help finleap accelerate the development of new ventures across Europe by making use of Ping An‘s significant in-house technology capabilities, particularly in AI and blockchain.”