German InsurTech Wefox Raises $650M In Series C Funding

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wefox, the Berlin-based digital insurance company has raised US$650 million in Series C funding round led by Target Global, with participation from existing investors including OMERS Ventures, G Squared, Merian Ventures, Horizons Ventures, Eurazeo, Mubadala, Creditease, Salesforce Ventures, Speedinvest, Alma Mundi Ventures, Victory Park Capital, Mountain Partners, Seedcamp and Sound Ventures. New investors include LGT Capital Partners, Partners Group, Jupiter Fund Management and FinTLV Ventures.

Founded in 2015, Berlin based wefox is a digital insurance company aiming to make people safe and prevent risk by reinventing insurance at scale through technology. The digital insurance startup intends to invest the proceeds in expanding into the US and Asia within the next two years while strengthening its presence in its existing markets in Germany, Austria, Switzerland, and Poland.

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