wefox, a Berlin, Germany-based insurtech company, raised $110m in debt and equity funding.
The funding included a US$55M credit facility alongside an additional $55M in equity. The credit facility was led by J.P. Morgan and Barclays. The equity was raised from existing and new investors as a second closing of the Series D from new and existing investors including Squarepoint, at $4.5 billion valuation.
The company intends to use the funds to further strengthen its insurance and distribution business, which includes the recent launch of a global affinity business, and developing the technology platform.
Founded in 2015 by Julian Teicke, Fabian Wesemann, and Dario Fazlic, wefox is an insurtech that integrates technology with insurance distribution capabilities to more than 300 insurers and 4,000 active distributors serving 2.5M customers across Europe. It is the parent company of wefox Insurance, which is the in-house regulated insurance carrier.
Timeline of funding round
- 2023: Series D extension round $110m through equity and debt
- 2022: Series D round $400m led by Mubadala
- 2021: Series C round $650m led by Target Global
- 2019: Series B round $235m led by Omers
- 2017: Series A round of $30m led by Horizons Ventures
- 2016: Seed round of $5.5m led by Salesforce Ventures.
FinSMEs
17/05/2023