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Deutsche Bank, Groupon Alumni’s Startup Valued at $3 Billion Jun 02 2021, 12:59 AM June 01 2021, 12:22 PM June 02 2021, 12:59 AM (Bloomberg) Wefox, an insurance-technology firm founded by former Groupon Inc. and Deutsche Bank AG staff, raised $650 million in a funding round that values the company at $3 billion. (Bloomberg) Wefox, an insurance-technology firm founded by former Groupon Inc. and Deutsche Bank AG staff, raised $650 million in a funding round that values the company at $3 billion. Venture capital firm Target Global led the investment in Berlin-based Wefox, which sells property-insurance products in Germany, Poland and Switzerland and also offers related software. Wefox plans to use the money to expand to new countries, including Italy, and later this year add life- and health-insurance products to its portfolio, Chief Executive Officer Julian Teicke said in an interview.

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