Purpose Financial

Purpose Financial in its $53.5 million investment by Allianz X


Purpose Financial


$53.5 million

Date Closed

February 2021


Investment Management

Lead Office



On February, 26, 2021, Allianz X completed its $53.5 million investment in Purpose Financial. The proceeds from the investment will be used to accelerate growth and expand product development, and is the first step in a strategic cooperation between Purpose Financial and Allianz X to leverage expertise and develop partnership opportunities.

Purpose Financial is a financial services company with a core focus on asset management, wealth management and small business financial technology.

Allianz X is a venture capital firm focused on investments in technology companies operating in the insurance and financial services ecosystem.

Osler, Hoskin & Harcourt LLP advised Purpose Financial with a team consisting of Andrew Aziz, Kai Sheffield, Bradley Lastman, Jonathan Lee (Corporate) and Christopher Sheridan (Tax).