Aegon has invested in German pension start-up fairr.de, in a move which opens up opportunities in the German market.
Berlin-based Fairr.de has demonstrated rapid growth in the German market, offering third pillar private pension plans for employees (Riester-plan), independent professionals (such as doctors, lawyers, architects), and the self-employed (Rürop-plan). The company also offers corporate pension products for employers.
In the traditional German market, characterized by high costs and provisions, fairr.de's disruptive, digital approach, offers a number of learnings for Aegon.
From the Dutch market, Aegon brings significant value to the partnership through its wealth of knowledge and experience in the fields of corporate pension products, primarily company pension plans.
Lower costs, better products
Fairr.de operates using a digital, direct sales model. This enables it to supply better products and services with substantially lower costs. In addition to the three founders, the company employs thirteen people at its head office.
Fairr.de has already been recognized with a number of awards and nominations for, among other things, best pension product and most promising financial start-up.
Aegon's investment was made via Aegon's venture capital fund.