wefox Group achieved an investment sum of 125 million US-Dollar in Series B round (PHOTO)

Berlin (ots) – – The wefox Group announced a record amount of 125 million US-Dollar in Series B round for a InsurTech

The financing round was led by the Mubadala Investment Company, and the newly applied European venture Fund

With the round of financing, Goldman Sachs International and the Chinese investment company, Creditease, as well as the stock investors, angel list, Horizons Ventures, Idinvest Partners, Seedcamp, speed invest, and Target Global are involved.

The wefox Group, a Swiss-based and Berlin-based InsurTech, has successfully achieved the record sum of $ 125 million in its Series B round. The investment round was led by the Mubadala Investment Company, and the newly applied European venture Fund.

The 125 million Dollar Investment is the largest Series-B-round of a InsurTechs. Thus, the wefox Group, one of the fastest growing FinTechs in Europe, confirmed to be. The aim of the group is to invent a insurance is completely new.

The wefox Group is the first Investment by the Mubadala European venture Funds. This commitment is also in connection with the announcement of the wefox Group to expand into the Asian market. The group is supported by the partnership with SBI (a former Softbank Investment).

In the year 2014, InsurTech was able to increase its sales to about 40 million US dollars. More than 1,500 insurance brokers and over 400,000 customers make the wefox Group the number one European InsurTech platforms.

The insurance industry is ready for a paradigm shift in The Investment, which is round, belongs to the first Tranche of the Series B, the company will support significant Expansion in the European insurance broker market. In addition, it paves the wefox Group, the way to accelerate your growth. In addition, the Investment will be used to have the world’s most innovative product portfolio and a Team of excellent developers. Future data analyses will be used to develop an All-In-One-insurance platform with consistent personalized interactions.

wefox Group founder and CEO, Julian Teicke: „The insurance industry is ready for a radical change. We have the opportunity to integrate all insurers worldwide in our platform and to become the largest insurance company in the world. Therefore, Mubadala is the perfect Partner for us, because you understand that the insurance market needs to be invented from scratch. We have proved this already with ONE Insurance. We are Europe’s leading provider of All-In-One-insurance solutions for the customers anytime and anywhere.“

„This Investment allows us to bring our core technology to develop, which uses AI (Artificial intelligence) to customer together with the right insurance. The settlement of claims is done automatically and almost in real time. As a result, the entire process for the customer is easier and safer,“ adds Teicke.

Ibrahim Ajami, Head of Mubadala Ventures, says: „We are delighted to launch our European platform, with our first Investment. The wefox Group solves a fundamental topic in the Sector in an innovative and elegant way by the Central Authorities be optimised in the value chain. We look forward to working with the exceptional Team of wefox Group, the founders, the Management Team and the employees to cooperate.“

Goldmann Sachs International supports the investment process of well-known international investors in the new investors in the wefox Group, the Chinese investment company Creditease. This commitment is in connection with the intention of wefox Group to expand to China. To belong to the previous world-leading Lead investors including Horizons Ventures, idinvest Partners, Mountain Partners, speed invest,Seedcamp, Salesforce Ventures Sound Ventures, the VC of the Hollywood actor Ashton Kutcher. The wefox Group has appointed Goldman Sachs International as a consultant for the transaction.

In December 2018, the wefox Group announced a partnership with Marsh, a leading insurance broker and provider of consulting services in the area of risk management. The wefox Group and Marsh are planning a wide range of tailor-made insurance products for SMEs, including the Sharing Economy, tradesmen, independent retailers, self-employed and non-profit organizations.

Notes to editors

The wefox Group is the parent company of ONE Insurance and wefox.

Mubadala Investment Company actively manages a world-wide Portfolio, which supports the Vision of a globally integrated and diversified economy through sustainable dividends to its shareholder, the government of Abu Dhabi.

Mubadala Ventures is part of Mubadala Capital, the investment company of the company. Mubadala Ventures oversees and manages the financing commitments in the amount of 15 billion US-Dollar against the Softbank Vision Fund. In the year 2017 initiated Mubadala Ventures, a Fund with a volume of 400 million US dollars, as well as a Fund of funds of 200 million US dollars, which are managed from London.

Among the previous investors of the wefox Group Target Global, Salesforce Ventures, Seedcamp and idinvest, as well as Sound Ventures of the Hollywood actor Ashton Kutcher.

The financing of the wefox Group rounds

– Seed Round in 2016, with USD 5.5 million to invest led by Salesforce Ventures, along with Idinvest, Seedcamp and Speed. The goal of wefox was to create a customer interface on the Basis of a scalable product, which enables brokers to manage their clients on the wefox platform and advise.

– Investment round Series A in the year 2017, with USD 30 million led by Horizons Ventures and Target Global. The Investment was used for the development of an interactive interface with flexible insurance products from ONE Insurance to make the user experience simple, transparent and enjoyable.

– Round of investment Series B in 2019 with USD 125 million -led by Mubadala. The aim is to use the leverage of the digital distribution channels of the wefox Group, of ONE and wefox and to create a platform that combines all the insurance companies in the world.

Fatih Aydin
PR LEAD GERMANY
E-Mail: mail@fatihaydin.de
Phone: +49 151 64504430

[INTERNATIONAL] John Shewell
E-Mail: john.shewell@wefoxgroup.com
Phone (International): +44 774 880 156 7

www.wefoxgroup.com
www.wefox.de
www.wefox.at
www.wefox.ch
www.one insurance.eu