Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance.
The wefox-platform allows customers, brokers and insurance companies to digitally manage their insurance products.
wefox was founded in Switzerland in November 2014 by Julian Teicke, Dario Fazlic, Fabian Wesemann, and Teodoro Martino. The company is headquartered in Berlin, Germany, with operations in Germany, Austria, Spain, Switzerland.
Wefox sells various insurance products through a combination of in-house and external brokers, bypassing the direct-to-consumer model.
Wefox focuses on enabling its brokers, agents, and affinity partners to target the most profitable customers. The company's model enables them to drive a superior financial profile which puts them on a clear path to profitability.
Wefox has built a network of around 3,000 independent brokers in its native Germany, while in other markets such as Switzerland, Germany and Austria, it has trained its own brokers. The company recently passed 2 million customers across the board.
wefox is backed by Mubadala Investment Company, Target Global, OMERS Ventures, Gsquared, Merian, Horizons Ventures, Eurazeo, Creditease, Salesforce Ventures, LGT, and others. The company raised $400M in Series D round on Jul 12, 2022. This brings wefox's total fundiing to $1.32B to date. The latest round pushed the company's valuation to $4.5B, up from previous $3B in Series C raised in Jun 2021.