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 six European markets Germany, Switzerland, Austria, Italy, Poland and Netherlands.
Wefox sells various insurance products through a combination of in-house and external brokers, bypassing the direct-to-consumer model. The platform connects insurance companies, distributors, and customers, to give the world simple access to digital insurance solutions.
Wefox has integrated technology with insurance distribution capabilities to more than 300 insurer, selecting the best policies. The company also launched its own insurance carrier Wefox Insurance, which can design and sell its own insurance products without relying on third-party insurance companies.
Wefox has built a network of 4,000 active distributors serving 2.5M customers across Europe.
wefox is backed by Mubadala, J.P. Morgan, Barclays, Target Global, OMERS Ventures, Gsquared, Merian, Horizons Ventures, Eurazeo, Creditease, Salesforce Ventures, LGT, Squarepoint, and others. The company raised $110M in debt and equity financing on May 17, 2023. This brings wefox's total funding to $1.43B to date. The latest round valued the company at a $4.5B post-money, which is exactly similar to its previous valuation in Series D round on Jul 2022.