wefox, a Berlin, Germany-based insurtech company, closed a Series D funding round of $400m (comprising equity and debt) and increased its post-money valuation to US$4.5bn.
The round was led by Mubadala Investment Company with participation from Eurazeo, LGT, Horizons Ventures, OMERS Ventures and Target Global.
The company intends to use the funding for product development and expand across Europe and thereafter Asia and the US.
Founded in 2015 by Julian Teicke, Fabian Wesemann and Dario Fazli, wefox is a full-stack insurtech company that sells insurance through intermediaries and technology. wefox is the parent company of wefox Insurance, which is the in-house regulated insurance carrier.
Timeline of funding rounds
- 2022: Series D round $400M led by Mubadala Investment Company.
- 2021: Series C round $650M led by Target Global.
- 2019: Series B round $235M led by Omers and Mubadala.
- 2017: Series A round of $30M led by Horizons Ventures.
- 2016: Seed round of $5.5M led by Salesforce Ventures.