Clark, a Berlin, Germany-based insurance-robo-advisor, raised €13.2m in Series A funding.
Backers included FinLeap, SevenVentures and Axel Springer (through media investments), yabeo Capital, Kulczyk Investments, HitFox, TA Ventures, Tenderloin Ventures and GMPVC.
The company intends to use the funds to develop its technology platform and grow the team.
Founded in June 2015 by Dr.Christopher Oster, Steffen Glomb, Dr. Marco Adelt and Chris Lodde, Clark allows users to assess their insurance status through an app (iOS and Android) or website. Based on algorithms, the robo-advisor provides analysis on the customers’ insurance situation and automatically proposes
optimization opportunities by searching for tariffs from more than 160 insurance companies. On request, experts are available to assist customers with specific questions.
Since the beginning of this year, the company increased the volume of managed insurance premiums by a factor of fifteen to €30m.
Clark employs nearly 20 employees, the majority in software development.