Getsafe, a Heidelberg, Germany-based insurtech company, closes a USD 17M Series A funding.
The round was led by Earlybird, with participation from CommerzVentures and other existing investors.
The company intends to use the funds to continue to expand operations and its business reach internationally with the aim to sell 180,000 policies by the end of the year.
Led by CEO Christian Wiens, Getsafe is an insurance company using digital solutions and artificial intelligence to allow people to learn about, buy, and manage insurance through their smartphone. Together with partners such as Munich Re and leading venture capital investors, the company has developed a range of digital insurance products mainly targeting millennial customers by offering liability, renters and legal insurance – including modular add-ons for family members, bikes and drones.
Since the launch of its insurance offering at the end of 2017, the company has sold 50,000 policies last year. By the end of this year, GetSafe plans to enter the British market with other markets scheduled to follow in 2020. The team is to grow from currently 50 employees to more than 100 with a focus on customer care, software development and data science.