# Top 50 InsurTech VC (Venture Capital) Funds in Germany in June 2026 ## finleap - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 7 - Stages: Seed, Series A - Focus: Financial Services, FinTech, Banking finleap is Europe's leading fintech ecosystem, headquartered in Berlin. finleap was founded in 2014 by IONIQ Group and Ramin Niroumand, and has since built and scaled 18 companies and added more to its ecosystem through acquisitions. ## coparion - Type: VC Fund - Location: Cologne, Nordrhein-Westfalen, Germany - Relevant deals: 5 - Stages: Series A, Seed, Series B - Focus: Software, SaaS, FinTech Coparion provides venture capital to accelerate momentum and growth. With a currently active fund of EUR 275 million, Coparion has the means to do so.Coparion supports entrepreneurial vision with know-how, but without intervening in daily business operations. Thanks to in-depth experience in venture capital and in building companies, the Coparionteam discerns potential and opens up new perspectives. Coparion has the substance, tenacity, and creativity required to mutually manage difficult situations successfully.Coparion only invests with co-investors. The fund invests up to EUR 15M per company, usually in several financing rounds of EUR 0.5-8M each. The investment focus is on German companies in the start-up and early growth phases. Coparion is based in Cologne and Berlin. ## CommerzVentures - Type: VC Fund - Location: Frankfurt, Hessen, Germany - Relevant deals: 4 - Stages: Series B, Series A, Series C - Focus: FinTech, Financial Services, Software Venture capital investor in early stage FinTech and InsurTech companies starting at Series A in Europe, Israel and the USA. ## UNIQA Ventures - Type: VC Fund - Location: Vienna, Wien, Austria - Relevant deals: 4 - Stages: Series A, Seed, Series B - Focus: FinTech, Insurance, Health Care UNIQA Ventures GmbH is the Venture Capital arm of UNIQA Insurance Group AG, a leading insurance carrier in Central & Eastern Europe and a pioneer in Corporate-backed Venture Capital in Austria and CEE. Based in Vienna, Austria, the firm is investing in outstanding business models driven by strong teams and a clear vision to shape the future ofkey industries. Investment areas are the future of Health, Mobility, Intelligent Home and FinTech/InsurTech as well as enabling technologies such as IoT, Blockchain, ML/AI. ## Valar Ventures - Type: VC Fund - Location: New York, New York, United States - Relevant deals: 4 - Stages: Series A, Seed, Series B - Focus: FinTech, Financial Services, Banking Valar Ventures is a venture capital firm backed by Peter Thiel. Valar partners with entrepreneurs globally and believes that an increasing number of transformative technology companies will be started outside of Silicon Valley, and that the founders of those companies will benefit from having a partner that understands their unique challenges andopportunities. ## ff Venture Capital - Type: VC Fund - Location: New York, New York, United States - Relevant deals: 3 - Stages: Seed, Series A - Focus: Software, Information Technology, Artificial Intelligence ff Venture Capital (ffVC) is a technology venture capital firm investing in some of the strongest growth areas to date, including cybersecurity, artificial intelligence, machine learning, drones, enterprise cloud software, and crowdfunding. The firm identifies and invests in technology and technology-enabled companies at its inception acrossgeographies and emerging industries. With three partners and an acceleration team of 20+ investment and operations professionals, ffVC actively participates with founders to develop products, target markets, and accelerate growth. Since 2008, ffVC has invested in over 100 companies and has helped to create companies with an aggregate market value exceeding $6 billion. ## Alma Mundi Ventures - Type: VC Fund - Location: Madrid, Madrid, Spain - Relevant deals: 3 - Stages: Series A, Seed, Series B - Focus: Software, InsurTech, Insurance We back bold and purpose-driven founders. ## Deutsche Bank - Type: VC Fund - Location: Frankfurt, Hessen, Germany - Relevant deals: 3 - Stages: Debt Financing, Post-IPO Debt - Focus: Financial Services, Software, Finance Deutsche Bank is a global investment bank that offers various financial services, including corporate banking, institutional services, and private client solutions. It provides support for capital markets, international payments, and trade finance. The bank also engages in research related to digital disruption and sustainability within thefinancial sector. ## La Famiglia - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 3 - Stages: Seed, Series A, Series B - Focus: Software, Information Technology, Artificial Intelligence We are an early-stage venture capital fund backing the best tech entrepreneurs across Europe and the US ## Signals Venture Capital - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 3 - Stages: Seed, Series A, Series B - Focus: SaaS, Software, Information Technology At signals Venture Capital we back visionary founders and top technology teams across Europe. ## Rocket Internet - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 3 - Stages: Seed, Series A - Focus: E-Commerce, Internet, FinTech Rocket Internet incubates, builds, develops operationally and strategically invests in internet and technology companies globally. It provides operational support to its companies and helps them scale internationally. Rocket Internet's selected companies are active in a large number of countries around the world. ## Target Global - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 3 - Stages: Series A, Seed, Series B - Focus: FinTech, Software, Financial Services Target Global is a prominent European technology investment firm with a significant presence in the venture capital landscape, boasting over €3 billion in assets under management. The firm operates out of key tech hubs including London, Berlin, Tel Aviv, and Abu Dhabi, and has a rich portfolio featuring some of Europe's most successful techcompanies such as Revolut, Auto1, Copper, Delivery Hero, Docplanner, and Rapyd.Founding and GrowthTarget Global was established in 2015 by Shmuel Chafets and Yaron Valler, who brought a wealth of experience from their tenure at Hasso Plattner Ventures. Their professional partnership dates back 15 years to their time at Giza Venture Capital, a trailblazer in Israel's investment ecosystem, where they honed their investment acumen and industry foresight.Investment Philosophy and ImpactTarget Global stands out in the European tech industry for its diverse team and its ability to identify and capitalize on unique opportunities. The firm's knack for recognizing potential in the early stages of Germany's tech economy led to the emergence of several unicorns in the 2010s. As the European tech industry evolves, Target Global remains at the forefront, seeking out innovative companies like Robovision, Saleor, and Finom. These recent investments reflect the firm's commitment to supporting cutting-edge technology and business models.Fundraising SuccessesTarget Global's fundraising prowess is evident in its six investment funds, which have collectively raised significant capital. The funds range from Early Stage Funds, focusing on nascent startups, to Growth Funds that support more mature companies scaling their operations. The firm's co-investment strategy has led to over €1 billion in capital deployment across a diverse array of partnerships.Backing and AchievementsWith the backing of investors such as FERI, UBS, Allianz X, Mubadala, and Hermes GPE, Target Global has cemented its reputation as a trusted and successful investment firm. Its portfolio spans over 140 companies at various development stages, with a focus on those targeting trillion-dollar markets.Just a few of the many notable companies in the firm’s portfolio include:- Tarabut, MENA’s leading open banking platform, which was recently featured in Forbes Middle East’s list of Top 50 Fintech Companies.- Flo Health, an AI-driven women’s health product, which is the world’s top health and fitness app by downloads.- Robovision, an easy-to-use AI-driven computer vision platform for users to develop their own deep-learning-based solutions.- Enter, a German company that helps homeowners and businesses reduce their carbon footprint.Target Global's track record includes support for 15 unicorn companies, over 20 exits, and 7 IPOs, showcasing its ability to drive growth and success in the European tech ecosystem. The team, comprised of individuals with founder and operator backgrounds, continues to pursue exceptional opportunities to expand the firm's portfolio and influence.Target Global's journey from its inception to its current status as a key player in European venture capital is marked by strategic investments, a commitment to diversity, and a deep understanding of the tech industry's dynamics. With a clear vision for the future, Target Global is poised to continue its role in shaping the next wave of European tech giants. ## seed + speed Ventures - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 2 - Stages: Seed, Pre-Seed, Series A - Focus: Software, SaaS, Food and Beverage Empowering visionary founders with pre-seed and seed funding for B2B software innovation. Partner with us to turn your aspirations into thriving businesses. Our expert support ensures your journey to success. ## Investitionsbank Berlin - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 2 - Stages: Grant, Seed - Focus: Software, Information Technology, Artificial Intelligence Investitionsbank Berlin (IBB) is the subsidy bank of the Federal Land of Berlin. With its newly orientated economic support and subsidy policy, it actively contributes towards developing Berlin as a business and industry location. ## NAP - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 2 - Stages: Seed, Series A, Pre-Seed - Focus: Software, Information Technology, SaaS Cavalry is an early-stage venture capital investor focused on European technology companies. ## SBI Investment - Type: VC Fund - Location: Minato, Chiba, Japan - Relevant deals: 2 - Stages: Series B, Series A - Focus: Information Technology, Software, Financial Services SBI Investment supports the business development and growth of private venture companies through fund investment. It manages and manages venture capital funds under the management philosophy of becoming a leading company responsible for the creation and development of core industries in the 21st century as a "new industry creator".SBIInvestment has invested in a total of 986 companies in the past, of which 169 (17.1% of investment companies) have exited through IPO or M & A. ## astorya.vc - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: InsurTech, Insurance, Financial Services Scope . New technologies enable insurance, to change its status quo, business models and way of serving customers in the age of continuous change. We are investing in visionary founders eager to build this next generation of insurance and capable to take their vision off-the-ground. ## Odysseus Investments - Type: VC Fund - Location: Luxembourg, Luxembourg, Luxembourg - Relevant deals: 2 - Stages: Seed, Series A - Focus: InsurTech, Insurance, Blockchain Specializing in Financial Services, Technology, and Real Assets Specializing in Financial Services, Technology, and Real Assets ## Ilavska Vuillermoz Capital - Type: VC Fund - Location: Luxembourg, Luxembourg, Luxembourg - Relevant deals: 2 - Stages: Series A, Seed - Focus: FinTech, Financial Services, Banking Ilavska Vuillermoz Capital is a Luxembourg-based private equity firm founded in 2019. ## Helvetia Venture Fund - Type: VC Fund - Location: Basel, Basel-Stadt, Switzerland - Relevant deals: 2 - Stages: Seed, Series A - Focus: Financial Services, Information Technology, FinTech Helvetia has a long tradition: in over 150 years, it has grown from a number of Swiss and foreign insurance companies into a successful international insurance group. Today, Helvetia has subsidiaries in its home market Switzerland as well as in the countries that make up the Europe market area: Germany, Italy, Austria and Spain. Helvetia is alsopresent in France with its Specialty Markets market area and through selected regions worldwide. ## Salesforce Ventures - Type: VC Fund - Location: San Francisco, California, United States - Relevant deals: 2 - Stages: Series B, Series A, Series C - Focus: Software, SaaS, Information Technology 100% invested in enterprise cloud companies. ## Flash Ventures - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 2 - Stages: Pre-Seed, Seed, Series A - Focus: FinTech, Software, Financial Services Flash Ventures is a pre-seed investor that provides pre-seed capital to talented founders, supporting them to build game-changing businesses. Flash Ventures is headquartered in Berlin, Germany. ## Seedcamp - Type: VC Fund - Location: London, England, United Kingdom - Relevant deals: 2 - Stages: Seed, Pre-Seed, Series A - Focus: Software, FinTech, SaaS Seedcamp is Europe's seed fund, identifying and investing early in world-class founders attacking large, global markets and solving real problems using technology. The Seedcamp Nation includes over 400 startups building breakout businesses that change the way people live, interact and buy and includes publicly listed UiPath, Wise, and unicornsRevolut, Hopin, Sorare, Pleo, and wefox along with fast-growing businesses such as Grover, viz.ai and Ezra. Seedcamp fast-tracks a founder's vision and creates value through immediate access to smart capital, a lifelong community of support and a global network built upon more than a decade's experience backing exceptional talent.Seedcamp fast-tracks a founder's vision and creates value through immediate access to smart capital, a lifelong community of support, and a global network built upon more than a decade's experience backing exceptional talent. ## AngelList - Type: VC Fund - Location: San Francisco, California, United States - Relevant deals: 2 - Stages: Seed, Series A, Pre-Seed - Focus: Software, FinTech, Artificial Intelligence Apply privately to 130,000+ remote jobs and startup jobs near you with one application. See salary and equity upfront. Find the latest tech jobs, company overviews, benefits and more at AngelList Talent. ## Super Angels - Type: VC Fund - Location: Munich, Bayern, Germany - Relevant deals: 2 - Stages: Seed, Pre-Seed - Focus: Software, Artificial Intelligence, SaaS Super Angels is a investment firm. ## IBB Ventures - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 2 - Stages: Seed, Series A - Focus: Software, Health Care, SaaS Pre-Seed to Series A for Berlin-based founders. Where 30 years of expertise, capital and execution power meet. ## Carcharodon Capital - Type: VC Fund - Location: Stuttgart, Baden-Wurttemberg, Germany - Relevant deals: 2 - Stages: Seed, Pre-Seed, Series A - Focus: Software, Internet, Artificial Intelligence Carcharodon Capital provides seed financing for start-ups. The funds can also be provided during the foundation and serve the development and development of the company. The investment volume is between € 50,000 and € 200,000 per investment and can be provided in the form of equity, debt capital or as a hybrid (eg silent partner). ## APX - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 2 - Stages: Pre-Seed, Seed, Series A - Focus: Software, SaaS, Information Technology APX is Europe’s leading very-early-stage VC. Based in Berlin and backed by Axel Springer and Porsche, we support and partner with the most ambitious founding teams from Europe and beyond - often as their first investor.We invest up to EUR 500K in startups until a series A starting with a quick EUR 50K investment, and within a few months,depending on traction and speed, we can invest further. Each month we invest in new teams who become part of the APX community, counting hundreds of other founders. Since 2018, we have invested in 100+ startups across 20+ industries with founders from 20+ countries together with 100+ co-investors. ## Neosfer - Type: VC Fund - Location: Frankfurt, Hessen, Germany - Relevant deals: 2 - Stages: Seed, Series A - Focus: Software, SaaS, FinTech Neosfer (formerly main incubator) is the early stage investor and innovation unit of Commerzbank Group. ## Idinvest Partners - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 2 - Stages: Series B, Series A - Focus: Biotechnology, Health Care, Software Idinvest Partners is a pan-European private equity manager focused on the low and middle-market segments. With over 6 billion euros under management, the company has developed several complementary areas of expertise, including equity investments in buyout deals focusing on both mid-size as well as young innovative European companies; primaryinvestments in European private equity funds focusing primarily on the middle market segment; secondary investments; mezzanine investments in Europe; and private equity consulting.Idinvest Partners’ recent success stories include Criteo, Clear2Pay, Meetic, Prosensa, Converteam, Kwik Fit, Lastminute.com, Dailymotion, Deezer, Talend, Synthesio, Menlook, Vestiaire Collective, Pretty Simple, Curse.com, Withings, Kantox, Secret Escapes, Happn, Peakon, Dayuse, Botify, Financefox, Azalead and many more. ## Versorgungswerk Zahnärztekammer Berlin - Type: VC Fund - Relevant deals: 2 - Stages: Series B - Focus: Financial Services, B2B, FinTech supply factory of Zahnärztekammer Berlin ## Speedinvest - Type: VC Fund - Location: Vienna, Wien, Austria - Relevant deals: 2 - Stages: Seed, Series A, Pre-Seed - Focus: Software, FinTech, Financial Services Speedinvest is a globally active European venture capital firm built on a simple belief: many move more. From six offices across EMEA, our sector-focused investment teams back relentless founders from pre–Seed to Growth with long-term conviction, providing day-one access to our global network of corporate customers, experts, industry leaders, andtop-tier follow-on investors to scale smarter and faster. Building lasting companies like Bitpanda (Austria), Moove (Nigeria), Gigs (U.S.), Tide (UK), ARX Robotics (Germany), Wayflyer (Ireland), GoStudent (Austria), Seqera Labs (Spain), and Cylib (Germany) — together. Big ideas may start with one. But scaling and winning take The Power of More. ## Headline - Type: VC Fund - Location: San Francisco, California, United States - Relevant deals: 2 - Stages: Series A, Series B, Seed - Focus: Software, E-Commerce, Information Technology Headline is a Venture Capital firm actively on the ground in 7 cities around the world. We invest across categories and geographies, leading rounds at every stage. Once we commit to a team, we go to the ends of the earth to make their success global. ## Nauta Capital - Type: VC Fund - Location: London, England, United Kingdom - Relevant deals: 1 - Stages: Series A, Seed, Series B - Focus: Software, SaaS, Mobile We support visionary founders across Europe as they build the next generation of B2B software companies. ## Global Founders Capital - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Financial Services, Software, FinTech Over the past two decades, GFC have backed over five hundred entrepreneurs worldwide, e.g. Facebook, LinkedIn, Slack, and Away Travel. ## Die Sparkasse Bremen - Type: VC Fund - Location: Bremen, Bremen, Germany - Relevant deals: 1 - Stages: Seed - Focus: SaaS, Mobile, Travel Die Sparkasse Bremen is a bank that provides offers and services for private and corporate customers. ## Partech - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 1 - Stages: Series A, Seed, Series B - Focus: Software, E-Commerce, SaaS Partech is a global venture capital firm with offices in San Francisco, Paris, Berlin and Dakar. Partech invests in Internet and information technology startups at seed, venture and growth stages. ## Viola FinTech - Type: VC Fund - Location: Herzliya, Tel Aviv, Israel - Relevant deals: 1 - Stages: Series A, Series B, Series C - Focus: FinTech, Financial Services, Software Viola FinTech is a cross-stage venture fund that invests in global FinTech companies alongside leading venture investors. The fund brings together financial institutions and innovative startups to accelerate the modernization and digitization of financial institutions and support the growth of FinTech companies. ## Change Ventures - Type: VC Fund - Location: Tallinn, Harjumaa, Estonia - Relevant deals: 1 - Stages: Seed, Pre-Seed, Series A - Focus: Software, Information Technology, Apps We are a seed stage venture capital fund based in the Baltic states, backing ambitious Baltic founders anywhere in the world. ## Target Partners - Type: VC Fund - Location: Munich, Bayern, Germany - Relevant deals: 1 - Stages: Series A, Series B, Series C - Focus: Software, SaaS, Enterprise Software Target Partners is a German venture capital firm that invests in early-stage technology companies. With 300 million Euro under management, Target Partners is one of the leading venture capital investors in Germany.The partners of Target Partners have years of collective experience as successful managers, entrepreneurs and venture capitalinvestors in Europe and the USA. They founded or led companies their selves, developed or sold technology products their selves. They have seen numerous companies through to IPO and beyond. They understand the challenges an entrepreneur faces and that the road to success often isn't simple and straight.Both in Europe and the USA Target Partners has a large network in industry and venture capital. They open doors for you to customers, business partners, experienced managers and financial markets. They support you in business development, in international expansion, in closing OEM or distribution contracts, and in acquisition decisions. In addition, several dozen European and US entrepreneurs and top managers, as well as a number of US venture capitalists, have personally invested in their funds and thus have a particularly strong interest in your company's success. ## Sound Ventures - Type: VC Fund - Location: Beverly Hills, California, United States - Relevant deals: 1 - Stages: Series A, Seed, Series B - Focus: Software, FinTech, Financial Services Sound Ventures is a venture capital firm. The company seeks to invest in the technology sector. ## Rheingau Founders - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Software, E-Commerce, Internet Rheingau Founders is a Berlin&Munich based Venture Capital firm active since 2011. Focusing on pre-seed to Series A investments in Europe, predominantly B2B in the fields of Marketplaces, Software as a Service, InsurTech, and eHealth. Rheingau targets start-ups that have the potential to sustainably disrupt existing processes and value chains.Besides the financial investment, we offer strategic support through the mentorship of our partners. ## VR Ventures - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 1 - Stages: Seed, Series A, Pre-Seed - Focus: Software, FinTech, Information Technology VR Ventures supports leading-edge startups in the financial services and real estate sector. VR Ventures supports companies with shared access to their network, deep pool of expertise, and market knowledge. VR Ventures is headquartered in Berlin, Germany. ## Cherry Ventures - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 1 - Stages: Seed, Series A, Series B - Focus: Software, Information Technology, FinTech Cherry Ventures is an early-stage venture capital firm led by a team of entrepreneurs with experience building fast-scaling companies such as Zalando and Spotify. The firm backs Europe's boldest founders, usually as their first institutional investor, and supports them in everything from their go-to-market strategy and the scaling of theirbusinesses. Cherry Ventures has previously invested in the seed stage of over 50 companies across Europe, including FlixBus, Auto1 Group, Infarm, Rows, Forto, and TourRadar. Cherry Ventures is based in Berlin and invests across Europe with operations in London, Paris, and Stockholm. ## Robin Capital - Type: VC Fund - Location: Hamburg, Hamburg, Germany - Relevant deals: 1 - Stages: Seed, Pre-Seed - Focus: Software, SaaS, Information Technology Robin Capital focuses on software and technology solutions that address meaningful problems but am vertical agnostic. ## Keen Venture Partners - Type: VC Fund - Location: Amsterdam, Noord-Holland, The Netherlands - Relevant deals: 1 - Stages: Series A, Series B, Seed - Focus: Software, SaaS, Artificial Intelligence Keen Venture Partners is a radically human venture capital firm that invests in fast-growing European scale-ups at the Series A and Series B stages ## Sony Financial Ventures - Type: VC Fund - Location: Tokyo, Tokyo, Japan - Relevant deals: 1 - Stages: Series A, Seed - Focus: FinTech, Financial Services, Banking Sony Financial Ventures is the wholly owned investment subsidiary of Sony Financial Holdings Inc. ## EWOR - Type: VC Fund - Location: Berlin, Berlin, Germany - Relevant deals: 1 - Stages: Seed - Focus: SaaS, Billing, FinTech EWOR is a platform dedicated to transforming aspiring entrepreneurs into successful startup founders through world-class education, mentorship, and investment opportunities. ## Seventure Partners - Type: VC Fund - Location: Paris, Ile-de-France, France - Relevant deals: 1 - Stages: Series A, Series B - Focus: Biotechnology, Health Care, Software Seventure Partners is a French venture capital firm targeting in information and communication technology, and life sciences companies. It funds innovation and participates in the entrepreneurial adventure, alongside entrepreneurs and sharing their passion.Founded in 1997, Seventure Partners is one of the European leaders in venture capital, with€ 660 million under management as of December 31, 2016. It is an active partner of innovative companies that, according to the management team, show strong growth potential and evolving in two fields of activity: Digital Technologies and Life Sciences. With more than 20 employees, including some 15 investors, Seventure Partners has a proven track record and in-depth expertise in technology, entrepreneurship, and various private equity operations.Seventure's goal is to identify and support the development of tomorrow's European leaders in order to accelerate their growth. To do this, the firm provides entrepreneurs with the expertise, networks, and know-how of its internal team of investors. ## NRW.BANK - Type: VC Fund - Location: Düsseldorf, Nordrhein-Westfalen, Germany - Relevant deals: 1 - Stages: Seed, Series A, Series B - Focus: Software, Biotechnology, Information Technology NRW.BANK is the development bank for the state of North Rhine-Westphalia. It supports its owner – the state of North Rhine-Westphalia – in fulfilling its tasks, notably in the fields of structural, economic, social and housing policy. NRW.BANK pools the promotion and development programmes of the state of North Rhine-Westphalia, the FederalRepublic of Germany and the European Union and combines them with its own equity and debt products and advisory services. It offers the full range of financial products in three areas “Economy”, “Housing”, and “Infrastructure/Municipalities”. NRW.BANK operates in a competitively neutral manner as a partner of banks and savings banks.