Wefox raised $ 650 million in the most significant round for a global insurtech and one of the largest series C ever recorded. The post-money valuation of the German insurtech is 3 billion dollars.
Wefox intends to strengthen its presence in existing markets and expand globally within the next two years. “In the coming years, we will expand globally, increase our presence in Europe and move to both the US and Asian markets. wefox will become the leading retail insurance company within the decade, ”says Julian Teicke, CEO and founder of wefox.
The group has built an important corporate network across Europe. In Italy, Mansutti, the historic independent insurance broker, is its founding partner, and in 2021 it will complete an important equity entry in wefox, thus consolidating major digital insurance innovations for its customers. Since 2018, the two companies have been collaborating to adapt wefox’s services to the Italian market. The partners of the Milanese broker, which has always been characterized by a strong vocation towards the development of cutting-edge digital insurance technologies, can now access innovative CRM systems engineered by wefox throughout Europe, together with data science & digital intelligence tools.
“Connecting insurance companies, intermediaries such as financial institutions, consumers and experts on a common digital platform is the main objective of wefox Group. All actors can manage insurance and financial products and services in an intelligent and efficient way – comments Tomaso Mansutti, CEO of Mansutti SpA – It is possible to access insurance contracts at any time and from any place and request and stipulate new contracts or abandon those old with a single click; personalized digital consultants send notifications about the best savings opportunities in a neutral, simple and fast way within an app “.