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European insurtech startup Wefox grabs $650 million at $3 billion valuation Read full article June 1, 2021, 12:30 AM·3 min read German startup Wefox has raised a $650 million Series C funding round led by Target Global. Following this funding round, the company has reached a post-money valuation of $3 billion. Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance. “It’s much more than we wanted to raise initially. It was a very fast process and essentially we were oversubscribed by 4x or so,” co-founder and CEO Julian Teicke (pictured right) told me. In December 2019, the company reported a $1.65 billion valuation. And the company says today’s funding round is one of the largest Series C rounds of all time and likely the largest Series C round for an insurtech company more specifically.

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