Berlin-based digital insurance company wefox has reached two million customers, following an announcement that it is seeking another funding raise.
The company said this makes it one of the first InsurTechs to reach this particular milestone.
Launched in 2015, Wefox sells insurance through intermediaries and not directly to customers. While it is focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance, the firm is planning to launch 20 more this year including property and casualty insurance, pet insurance, health insurance, life insurance and more.
The InsurTech raised an eye-watering $650m Series C round at a $3bn valuation in June this year. The round, led by Target Global, marked the largest Series C to date for an InsurTech globally.
It was then reported that the German InsurTech was in discussions to raise further funding at a valuation of $5-6bn in the coming weeks. The funding could see wefox double its valuation from last year.
Julian Teicke, CEO and founder of wefox, said, “We’ve always been very clear about why wefox exists. We want to help people prevent risk and stay safe. We set out to disrupt an ancient industry and reinvent it using technology.
“As a result, our insurance is simple and fit for purpose for the way we live today. Our customers enjoy new standards of insurance and service. And if the worst happens, we pay claims fast.
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