Getsafe, a Heidelberg, Germany-based insurtech company, raised USD 30m in Series B funding earlier in December 2020.
The round was led by IptiQ, a subsidiary of Swiss Re with whom the startup already launched a mobile-first car insurance product last month, with participation from btov Partners and existing investors such as Earlybird, CommerzVentures and Capnamic.
The company, which now has received a total of $53m (USD), intends to use the funds to continue to expand operations and its business reach, as well as its product offering into health and life.
Co-founded by Christian Wiens and Marius Simon, Getsafe is a fully digital insurance company that allows people to cover themselves from their
smartphone. Using technology, the company offers renters, legal and car insurance. The app is available to customers 24/7 and 365 days a year, allowing people to file claims or change their coverage in real time.
In the last twelve months, Getsafe has entered the British market, increased its number of customers to more than 150,000, and now employs over 120 people.
Together with iptiQ, the company recently launched a digital car insurance optimized for smartphones in Germany. With a few clicks, users can purchase insurance with the app, file a claim, and manage their
policy in real time.
Getsafe now plans to extend its funding with a second tranche to be closed ahead of the receipt of the company’s own insurance licence, scheduled for the first half of 2021.