Berlin-based
wefox, a leading digital insurance firm, has acquired $650 million in capital as part of a Series C round. wefox now reports a post-money valuation of $3 billion.
This latest investment round represents the largest Series C to date for an Insurtech (internationally), according to a release.
wefox‘s management says the company plans to invest the capital raised into further expanding operations into the US and Asia within the next 2 years “while strengthening its presence in its existing markets in Germany, Austria, Switzerland, and Poland.”
Target Global led wefox’s round, along with contributions from existing investors: OMERS Ventures, Gsquared, Merian, Horizons Ventures, Eurazeo, Mubadala, Creditease, Salesforce Ventures, Speedinvest, Alma Mundi Ventures, Victory Park Capital, GR Capital, Mountain Partners, Seedcamp, and Sound Ventures. New investors include LGT, Partners Group, Jupiter, and FinTLV.