Purpose Financial Announces Closing of $53.5 Million Investment From Allianz X

Purpose Financial Announces Closing of $53

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) — Purpose LP (“Purpose Financial“), a leading financial technology platform, today announced that it has closed the previously announced minority investment from Allianz X, the digital investments unit of the Germany-based Allianz Group, which is focused on investments into leading fintech businesses globally.
As a financial technology platform, Purpose Financial is driven to help Canadian individuals, advisors and small businesses achieve their financial goals. Through its businesses and their synergies, Purpose Financial is innovating to create new products and solutions in segments of the financial services market that have traditionally been underserved. The investment from Allianz X will be used to accelerate growth and expand product development across Purpose Financial and its key growth businesses.About Purpose Financial
Purpose Financial is an independent financial services company with an unrelenting focus on customer-centric innovation, delivered through technology-driven solutions. Led by entrepreneur Som Seif, the company is developing a diversified product platform aimed at addressing historically underserved segments of the market. Purpose Financial’s businesses include Purpose Investments, Purpose Advisor Solutions and Thinking Capital. For more information, please visit: https://purposefin.com/
About Allianz X
Allianz X is the digital investment unit of the Allianz Group. Allianz X invests in and partners with digital frontrunners in the ecosystems relevant to insurance. Allianz X is one of the pillars of Allianz’s digital transformation strategy, and provides an interface between Allianz entities and the wider digital ecosystem. For more information, please visit: https://www.allianzx.com/
Media Contacts
For more information and media requests regarding Purpose Financial, please contact:
Keera Hart, Kaiser & Partners
[email protected]
For more information and media requests regarding Allianz X, please contact:
Sebastian Koehnlechner, ASSET Communications
[email protected]

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