Home insurance platform Hedvig said to raise €9.3m in funding

Online home insurance platform Hedvig has reportedly collected €9.3m in a new funding round.

The investment was raised by venture capital firms Obvious Ventures and D-Ax, according to a report from Sifted.

With the new burst of funds, Hedvig is looking to increase its customer base in Sweden and internationally. Plans also include moving to insure houses as well as just flats.

Sweden-based Hedvig is an online insurance company which enables users to buy protection for rented and owned apartments and the contents. Protection includes damages from fire, storm, water, burglary, accident and appliances. In addition to this, the platform covers gadgets and the household family, with travel and assault cover available.

There is a 100kr ($10) monthly fee for the insurance, however, a user can earn a 10kr ($1) discount on everyone they are able to recommend signing up. After enough people have joined, the policyholder can erase their monthly fee.

This investment comes a year after Hedvig closed a €3.85m funding round from Cherry Ventures and Khaled Helioui. The platform raised the former round to support growth and hire more staff.

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