Wefox secures USD 55 million in additional funding

The digital insurance company wefox is reported to have raised another USD 55 million from existing investors, after closing a major in a Series D funding round in July that increased its valuation. The company has been ranked among the TOP 100 Swiss Startups and Scale-Ups.

wefox CEO Julian Teicke giving a keynote speech at the TOP 100 Swiss Startup Awards 2022

After raising USD 400 million in a series D funding round last summer, the wefox is reported to have secured an additional USD 55 million from existing investors. Details of the investment have not been made public at this time. The company is focused on ensuring profitability, despite the current challenging climate for insurtech and fintech companies.

Founded in 2015 by Julian Teicke, Fabian Wesemann, and Dario Fazlic, wefox emerged as a unicorn in Europe's tech market. The promise of their business model was soon validated by subsequent growth and performance. Not only is its insurance company, wefox insurance, the first digital insurance company to reach profitability; the company also bucked the trend currently experienced in the insurtech market and tech sector more broadly, having increased its valuation from USD 3 billion to USD 4.5 billion between 2021 and 2022.

Wefox’s performance was recognized when it made the ranking of TOP 100 Swiss Startup Awards in 2019, as well as the TOP 100 Swiss Scale-Ups 2021 and 2022. Teicke gave a keynote speech at the TOP 100 Swiss Startup Awards last year.