Berlin-based insurtech startup wefox raises €111 million in Series B funding

Berlin-based insurtech startup wefox works with insurance brokers, agencies, and individuals through a digital platform that allows for simple and personalised consultations for all types of insurance. Founded in 2014, wefox has already grown its revenues to around €35 million, and serves more than 1,500 brokers and 400,000 customers, making it Europe’s number one insurtech platform. Wefox has now raised €111 million in Series B funding from Mubadala’s European Ventures Fund – the funds first investment. This comes after wefox’s announcement that it is launching into the Asian market following a partnership with SBI (formerly SoftBank Investment).