Clark Loses Unicorn Status: Allianz Marks Down to €613m

Herbert Frommes Versicherungsmonitor

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According to media reports, the once celebrated Frankfurt-based Insurtech Clark is deeply in crisis: sinking sales, high losses and billion-dollar debts put pressure on the company. Now, of all things, the alliance could become the decisive savior – or the new owner. Frankfurt-based digital broker is in trouble© Clark Frankfurt-based digital broker Clark, who was once the first Unicorn (a start-up with more than $1 billion – [...]

FinanceFWD

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Frankfurt's first Unicorn has lost its billions valuation, as internal documents reveal. A deal with Allianz also provides massive write-downs. Does the insurance company leave its stake? Benedikt Kalteier (41), CEO of the insurance company Clark, said his start-up was already on its way to the stock market two years ago. Frankfurt's Unicorn, which ranks Allianz and the Chinese tech giant Tencent among its main investors, had already reached a b…

manager magazin

Factuality

Ownership

Frankfurt's first unicorn has lost its billion-dollar valuation, according to internal documents. A deal with Allianz is also resulting in massive write-downs. Is the insurance group abandoning its stake?