wefox has raised €151M in funding, consisting of €76M from existing investors and €75M from refinancing a credit facility. This follows a restructuring effort, including selling branches to J.C. Flowers & Co. The funding will focus on strengthening market positions in Austria, the Netherlands, and Switzerland, helping achieve profitability by 2025. With a robust digital platform in Austria and leading term-life insurance in the Netherlands, wefox continues to expand its services and board, adding new members and enhancing its operational strategy.
Berlin-based wefox, an insurtech unicorn, has secured €151M funding, which includes investments from existing investors and from refinancing its credit facility with Searchlight Capital Partners.
The funding enables wefox to strengthen its positions in Austria, the Netherlands, and Switzerland while aiming for profitability by the end of 2025.
In Austria, wefox leads with the most advanced digital platform for retail insurance brokers, while in the Netherlands, it tops the term-life insurance market under the TAF brand.
After refinancing, the board composition of wefox Holding AG changed, adding Prateek Puri from Searchlight Capital Partners and Joachim Müller, while several members left.
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