Blockchain Startup Joins Allianz Backed FinTech Accelerator

Blockchain startup Everledger has joined a startup accelerator owned by insurance and financial services company Allianz France.

London-based Everledger uses a blockchain implementation as a diamond verification registry, which, as described by CEO Leanne Kemp in an August interview with CoinDesk, is akin to "putting bling on the blockchain".

Other startups involved in the class include Dreamquark, Finsquare, Qualisteo, Wever and Wicross. Allianz said that the selection process began in October and drew applications from more than 100 startups.

Everledger joins the Allianz accelerator months after a three-month stint with the Barclays Accelerator in London. That session was completed in June.

The addition of a new batch of startups to its financial tech accelerator comes amid a time of change for the Munich-based company.

Allianz Group, of which Allianz France is a subsidiary, recently announced a plan to shake up its business in a bid to boost productivity, according to Reuters. Allianz, which reported €122bn in 2014 revenue, is seeking to shave productivity costs by as much as €1bn euros over the next three years.

Everledger did not respond to a request for comment. A representative for Allianz was not immediately available when reached.

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