Mountain Partners Enlarges its Insurtech Portfolio with wefox
wefox is the largest European Insurtech company and developed a digital insurance marketplace connecting brokers and customers to insurers with significant scale in Germany, Austria and Switzerland. It is part of the wefox group, which operates a second business called One in parallel.
Like simplesurance, another Insurtech startup active in Europe and part of Mountain Partners (via Rheingau Founders), wefox is gathering more and more capital, showing that its industry is ready for the digital transformation. wefox wants to conclude its next round of financing this fall. “It’s about a three-digit million amount,” said CEO Julian Teicke in an interview with the Süddeutsche Zeitung in Germany. He also confirmed that wefox had appointed investment bank Goldman Sachs as advisors to the transaction.
wefox already enables 200,000+ customers, 800+ insurance brokers and 300+ insurance providers to transact and manage insurance products digitally and plans to expand its dual services, wefox and ONE across Europe and Asia.