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 is a fully licensed digital insurance company that sells insurance through intermediaries and not directly to customers, which has resulted in significant growth with a clear path to profitability.
Wefox has 700 agents selling Wefox products exclusively. It also partners with associate brokers — around 5,000 can distribute Wefox products. Wefox also plans to sell new insurance products — property and casualty insurance, pet insurance, health insurance, life insurance.
wefox is backed by Target Global, OMERS Ventures, Gsquared, Merian, Horizons Ventures, Eurazeo, Mubadala, Creditease, Salesforce Ventures, and others. The company raised $650M in Series C round on June 01, 2021. This brings wefox's total funding to $918.5M to date. The new round realy doubled the company's valuation to $3B post-money. wefox was previously valued at $1.65B from the Series B raised in Dec 2019.