Wefox, a Berlin-based insurance startup founded six years ago, has secured $650 million in a Series C funding round that values the company at $3 billion. It follows a $110 million round extension in 2019 that reportedly bestowed Wefox with a $1.65 million valuation. Teicke hopes it could ultimately shift insurance from a reactive to proactive product. Last year, investors committed $6.6 billion at the sector, plus an additional $2.2 billion during the first three months of 2021. Wefox’s core offering is a platform that serves brokers, who ultimately advise and sell policies—including car, household and personal liability—to customers.

Source: Forbes June 01, 2021 12:58 UTC