Ottonova, a Munich, Germany-based digital health insurer, raised a multi million euro amount of funding.
According to reports, the funding could amount approx. €15m, which brought the total amount raised to €20m. Backers in this latest round included Tengelmann Ventures, B-to-V Partners and STS Ventures, which joined previous investors Holtzbrinck Ventures and Vorwerk Ventures.
The company intends to use the funds to continue to develop and launch the platform.
Co-founded by Dr. Med. Roman Rittweger, Sebastian Scheerer and Frank Birzle, ottonova is building a digital platform offering private health insurance products. The company, aims to receive formal approval from the German Federal Financial Supervisory Authority (BaFin) within 2017, currently employs approx. 50 people and is continuing to hire in different business areas.