News / Press release
More than just a digital will: SCHAUENBURG Ventures invests in platform for the digital inheritance of Berlin-based start-up Ninebarc
Mülheim a.d.R. / Berlin, 02.12.2020 - The SCHAUENBURG International Group from Mülheim has acquired a stake in Ninebarc GmbH via SCHAUENBURG Ventures GmbH. The Berlin-based start-up offers a platform for digital inheritance planning, in which legally binding precautionary documents such as living wills, organ donor cards or powers of attorney can be deposited. Ninebarc is more than just a digital will, because in addition to storing and passing on important data, in future it will be possible to deposit an inheritance plan that fulfils the legal requirements, create information on assets via the platform and plan one's own funeral.
"We work with a transmortal power of attorney. Once you have signed this online, you allow us to distribute your data to your heirs as defined in the inheritance plan and as you wish. This only happens after death," says Cedric Horstmann, CEO, explaining the business model.
Together with Hans Hosenfeld and Corey Ellis, he founded Ninebarc in April 2020. "We want to take away the fear of the topic of inheritance and create a platform that makes it intuitive and easy to deal with," adds Corey Ellis. "All three of us have already experienced for ourselves how difficult it is to lose a loved one. Even today, death is still a taboo subject and is often suppressed by society."
Often, ongoing contracts such as subscriptions, mobile phone contracts, memberships and insurance policies remain as a legacy for the surviving dependents who have to pay for the running costs. If the contracts remain undiscovered, monthly obligations will quickly result in high costs. "In the worst case, assets such as rights of use, patents, intellectual property, real estate and life insurance can be lost if information is not transferred," stresses Hans Hosenfeld. "This also applies to emotional valuables such as pictures and music."
In addition to Ninebarc as a B2C brand, the Berlin-based start-up also offers its services to companies - especially insurers and financial service providers - as a value-added service for consumers. With this approach, the founders want to expand their reach and make their services more easily accessible to end consumers. In the B2B context, the digital pension platform can be integrated into existing policies and products as an additional module or even made available as a white label solution.
Florian Schauenburg, CEO of SCHAUENBURG International GmbH, also sees great potential for entrepreneurs, particularly in the area of family equity, as the Federal Supreme Court has provided legal certainty in 2018 and ruled on the inheritability (universal succession) of the "digital inheritance". "Since then, the digital inheritance is to be treated legally in the same way as the inheritance of physical objects. This means: all rights and obligations of a deceased person to online services and also his or her data are transferred to the heirs," confirms Florian Schauenburg. "By investing in Ninebarc, we are expanding the digital diversification of our broad venture portfolio."