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