FinanceFox, a European service platform for insurances, brokers, and consumers, raised $28m in funding.
The round – the largest InsurTech investment in Europe to date – was led by Target Global and Horizons Ventures with participation from existing investors Idinvest, Salesforce Ventures, Speedinvest, Seedcamp, AngelList, Victory Park Capital and angel Samuel Skoblo.
The company intends to use the funds to further expand its product, marketing, and sales activities in Switzerland and Germany, as well as enter new markets – for example Austria in the fourth quarter of 2016.
Founded by Dario Fazlic, Teodoro Martino, Fabian Wesemann, Jonathan Seoane, and CEO Julian Teicke, FinanceFox is an app and web-based service platform that combines insurance expertise with digital technology to enable consumers, brokers, and insurance companies to manage their insurance products and processes.
Launched in October 2015 in Switzerland and Germany, FinanceFox has acquired over 65.000 customers and collaborates with a number of insurance brokers in Switzerland and Germany and is continuously expanding its network.
The company currently employs over 80 people in offices in Zurich, Vienna, Berlin and Barcelona.