Baloise Holding AG / Key word(s): Miscellaneous
18-May-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 18 KR
The issuer is solely responsible for the content of this announcement.
Basel, 18 May 2021. Baloise is investing in Berlin-based start-up KUNO GmbH, which provides financial and HR administration services for companies. KUNO offers established companies and start-ups a full range of back office management services - including finance and accounting, controlling and reporting, HR management and payroll - from a single source. The investment in KUNO allows Baloise to better support the companies within its ecosystems and to add an additional component to the service offering for portfolio companies, thereby taking its ecosystems to the next level.
Baloise is acquiring a minority stake in KUNO, a service provider offering an integrated, fully digital solution for administrative tasks in the field of financial and HR management. For small businesses and smaller medium-sized companies, finance and HR processes can be complex and inefficient and may require significant manual effort. Furthermore, processes are very often insufficiently integrated, resulting in significant cost and effort for companies. KUNO aims to solve this problem by offering a full range of back office services from a single source through its proprietary platform. The company was founded in January 2021 with the help of finleap, Europe's leading fintech ecosystem, and is based in Berlin.
'We are very excited about the scope for synergies with Baloise's ecosystems and are confident that our services can help the Baloise community in the German market to get ahead. Start-ups can focus on their core business while we take care of the rest,' says Katharina Jung, founder and CEO of KUNO.
Alongside its 'Simply Safe' strategy, Baloise has been establishing the Home and Mobility ecosystems as central strategic pillars in order to meet changing customer needs beyond its core business in this digital age. 'Our intention behind the investment in KUNO is to strengthen our holistic approach to ecosystems. We are building an overarching system for partners and companies that enables businesses to support one another in order to be more successful. For instance, companies can provide services to each other or develop comprehensive solutions together that improve the long-term retention of customers in our ecosystem. This generates added value for everyone involved,' explains Patrick Wirth, Head of the Mobility ecosystem at Baloise.
* Media information at www.baloise.com
About KUNO GmbH
KUNO GmbH is a service provider offering an integrated, fully digital solution for administrative tasks in the field of financial and HR management. The service offering is geared towards small and medium-sized companies and start-ups that are looking for a simple, digital, integrated solution for their administrative processes. KUNO GmbH was founded in January 2021 and already supports around 20 customers from all over Germany. The company is developing a customer-centric platform in order to pursue its vision of 'providing one solution, so you can focus on what you love'. KUNO GmbH is based in Berlin and has around 15 employees (as at May 2021).
Baloise Group, Aeschengraben 21, 4002 Basel, Switzerland
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Contact details for KUNO
KUNO GmbH, Hardenbergstrasse 32, 10623 Berlin, Germany
Tel: +49 (0)176 222 575 88
End of ad hoc announcement