Venture capital firm
Allianz X portfolio
allianzx.comAllianz X is a venture capital firm based in Munich, Germany, founded in 2016. It has invested in 23 venture-backed companies across 27 funding rounds on VCMC, and led 18 of those rounds. 4 of them were in the last 12 months.
23
Venture-backed companies
in its portfolio on VCMC
27
Funding rounds
led 18
4
Last 12 months
rounds, Oct 2025 to Sep 2026
9
With a disclosed valuation
of 23 companies
$215.3B
Combined value of its private companies
the whole companies, not what Allianz X owns
21 private companies Allianz X has backed have a VCMC valuation; together they are worth $215.3B. That is the value of the whole companies, not what Allianz X owns. Stripe is 80% of the total. 2 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Full Allianz X portfolio (23 companies)
23 companies.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Stripe Payment Processing & Point of Sale · since Series H+, 2021 | Growth Equity Feb 2026 $159.00B | $173.0B | $138.2B – $207.9B | $180.8B (+4%) | $17.7B | 0% | 16,600 | growing | A | |
| 2 | N26 Banks & ATMs · led at Series C, 2018 | Series E Oct 2021 $900M | $8.5B | $1.3B – $13.7B | $8.2B (-4%) | $1.5B | 5% | 2,261 | up | D | |
| 3 | Wealthsimple Investment Consultants & Financial Advisors · since Growth, 2021 | Growth Equity Oct 2025 $540M | $8.5B | $6.2B – $9.8B | $8.5B (0%) | $763M | 0% | 2,493 | growing | A | |
| 4 | Ualá Financial Services · led at Growth, 2026 | Growth Equity Mar 2026 $195M | $3.4B | $2.8B – $4.0B | $3.5B (+3%) | $386M | 0% | 1,500 | unknown | A | |
| 5 | Ualá Money Transfer · led at Series E, 2025 | Growth Equity Mar 2026 $195M | $3.2B | $2.8B – $3.7B | $2.7B (-18%) | $384M | 85% | 1,401 | down | A | |
| 6 | Cambridge Mobile Telematics Tech Companies · led at Growth, 2026 | Growth Equity Mar 2026 $350M | $4.0B | $2.6B – $6.3B | $3.8B (-5%) | $385M | 37% | 467 | flat | B | |
| 7 | Coalition Insurance - Agents, Carriers & Brokers · led at Series F, 2022 | Series F Jul 2022 $250M | $2.8B | $573M – $8.3B | $2.4B (-13%) | $845M | 47% | 706 | flat | D | |
| 8 | WeLab Banks & ATMs · since Series D, 2026 | Series D Jan 2026 $220M | $2.8B | $1.6B – $4.6B | $2.9B (+2%) | $392M | 14% | 205 | flat | B | |
| 9 | Fundbox Loans & Financing · led at Series C, 2019 | Series D Nov 2021 $100M | $817M | $74.0M – $1.3B | $772M (-6%) | $142M | 10% | 208 | flat | D | |
| 10 | Pie Insurance Insurance - Agents, Carriers & Brokers · led at Series C, 2021 | Series D Sep 2022 $315M | $2.0B | $253M – $5.0B | $1.7B (-12%) | $425M | 24% | 376 | flat | D | |
| 11 | C2FO Loans & Financing · led at Growth, 2018 | Growth Equity Apr 2025 $30M | $379M | $160M – $637M | $345M (-9%) | $33.0M | 46% | 589 | flat | C | |
| 12 | Tech Companies · led at Series B, 2022 | Series B Jun 2022 $35M | $190M | $16.6M – $433M | $171M (-10%) | $41.3M | 15% | 190 | flat | D | |
| 13 | Tech Companies · led at Series B, 2018 | Series B Dec 2018 $11M | $12.5M | $4.90M – $73.0M | $12.5M (0%) | $12.7M | 97% | 22 | down | D | |
| 14 | Insurance - Agents, Carriers & Brokers · since Growth, 2023 | Acquisition Mar 2025 $2.60B | $4.5B acquired 2025 | $2.8B – $5.1B | – | – | 0% | 740 | flat | B | |
| 15 | Insurance - Agents, Carriers & Brokers · led at Growth, 2025 | Growth Equity Jan 2025 $193M | $2.0B | $1.0B – $2.9B | $1.9B (-5%) | $188M | 12% | 380 | up | B | |
| 16 | Insurance - Agents, Carriers & Brokers · led at Growth, 2026 | Growth Equity Oct 2026 $200M | $1.5B | $1.0B – $2.3B | $1.6B (+10%) | $146M | 0% | 302 | growing | B | |
| 17 | Insurance - Agents, Carriers & Brokers · led at Series C, 2025 | Series C Sep 2025 | $546M | $198M – $1.1B | $546M (0%) | $60.1M | 0% | 173 | unknown | C | |
| 18 | Banks & ATMs · led at Series C, 2021 | Series C Mar 2021 $75M | $698M | $43.1M – $1.3B | $660M (-5%) | $130M | 0% | 201 | flat | D | |
| 19 | Ridesharing · since Series B, 2019 | Series B May 2019 $38M | $168M | $13.0M – $193M | $157M (-6%) | $27.0M | 0% | 699 | flat | D | |
| 20 | Loans & Financing · since Growth, 2021 | Growth Equity Feb 2021 $42M | $669M | $74.7M – $1.0B | $669M (0%) | $66.2M | 0% | 478 | up | D | |
| 21 | Insurance - Agents, Carriers & Brokers · led at Series C, 2018 | Acquisition Sep 2022 | $83.2M acquired 2022 | $17.2M – $396M | – | – | 71% | 100 | unknown | D | |
| 22 | Mortgage Brokers · led at Series A, 2023 | Series A Apr 2023 $10M | $30.1M | $5.06M – $97.9M | $24.2M (-19%) | $11.7M | 44% | 30 | flat | D | |
| 23 | Tech Companies · since Seed, 2023 | Seed Mar 2023 $1.2M | $17.9M | $2.04M – $69.8M | $15.3M (-14%) | $5.77M | 83% | 94 | down | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How Allianz X invests: stages, industries and countries
Most of its rounds are Series C and later (81%). Its companies span 10 industries, most in Insurance - Agents, Carriers & Brokers, Tech Companies and Banks & ATMs, across 7 countries.
Rounds by stage
- Seed 1
- Series A 1
- Series B 3
- Series C and later 22
Investments by industry
- Insurance - Agents, Carriers & Brokers 7
- Tech Companies 4
- Banks & ATMs 3
- Loans & Financing 3
- Financial Services 1
- Investment Consultants & Financial Advisors 1
- Money Transfer 1
- Mortgage Brokers 1
Investments by country
- United States 10
- France 3
- Germany 3
- Argentina 2
- Hong Kong 2
- United Kingdom 2
Recent rounds
Allianz X's latest investments
Allianz X's most recent funding rounds, newest first. 4 rounds in the last 12 months.
- Growth, led $200M 7 Oct 2026
- Cambridge Mobile Telematics Growth, led $350M 24 Mar 2026
- Ualá Growth, led $195M 4 Mar 2026
- Ualá Growth, led $195M 4 Mar 2026
- WeLab Series D $220M 15 Jan 2026
- Series C, led amount not disclosed 11 Sep 2025
- Ualá Series E, led $366M 20 Mar 2025
- Growth, led $193M 30 Jan 2025
- Growth $265M 1 Nov 2023
- Series A, led $10M 27 Apr 2023
Co-investors
Allianz X's top co-investors
The investors that most often join the same rounds as Allianz X. Cathay Innovation leads, with 2 rounds together.
- 2 rounds together
- 2 rounds together
- Greycroft 2 rounds together
- Khosla Ventures 2 rounds together
About
About Allianz X
Allianz X GmbH is a German venture capital company that invests in late-stage and growth-stage scale-ups in the insurance and asset management sector, with a focus on insurtech and fintech companies. The company manages a portfolio of investments in digital financial services, fintech, and insurtech, and provides board participation, advisory roles, and access to its network for portfolio companies. Allianz X also engages in strategic partnerships, joint ventures, and mergers and acquisitions, and is involved in sustainability and impact investing initiatives.
Description from Veridion's company data.
- Founded
- 2016
- Based in
- Munich, Germany
- Team
- 56 people, +4% in a year
- Type
- Venture capital firm
Focus markets
- Insurance
- Asset Management
- Financial Services
What Allianz X offers
- Digital Insurance and Asset Management Investment
- Scale-Up Company Growth Capital
- Insurtech and Fintech Portfolio Management
- Strategic Partnership Development
- Joint Venture Formation
- Business Development Support Services
- Board and Advisory Participation Services
- Mergers and Acquisitions Facilitation
Questions
Allianz X: frequently asked questions
How many companies has Allianz X invested in?
23 venture-backed companies on VCMC, across 27 funding rounds.
What are Allianz X's most valuable private companies?
Stripe ($173.0B), N26 ($8.5B), Wealthsimple ($8.5B), by VCMC's valuation.
What was Allianz X's latest investment?
Ledgebrook, a Growth round in Oct 2026 of $200M, which Allianz X led.
Which stages does Allianz X invest in?
Allianz X invests most often at Series C and later (22 rounds), followed by Series B (3) and seed (1). It has also joined 1 Series A round.
What is Allianz X's portfolio worth?
Its private companies with a VCMC valuation are worth $215.3B together. That is the sum of the companies' values, not what Allianz X owns.
Who does Allianz X invest alongside?
Cathay Innovation (2 rounds), Acrew Capital (2 rounds), Greycroft (2 rounds).