This start-up is said to have secretly raised 100 million euros

Fintech Wefox has apparently received money from investors, but has not made it public. A media report has now revealed this.

Last year went more than well for Julian Teicke. His fintech Wefox raised 200 million euros in two funding rounds and now proudly bears the title "Unicorn". This is the term used to describe start-ups with a valuation of more than one billion euros, or one billion US dollars in the USA.

A company with such a high valuation can easily do without a capital injection of 100 million euros. But this is exactly what Wefox received in September, as FinanceForward and Finanz-Szene.de reported in a joint investigation. According to the financial blog, however, the money is not venture capital, but a mixture of credit and convertible loans. Is that why Wefox is keeping quiet? Or did they want to communicate a higher sum later?

In any case, the start-up seems to be doing well with its platform, which connects insurers, brokers and customers. During the last financing round, the company was already reported to be generating a turnover of 100 million US dollars with more than half a million customers. With One Insurance, Teicke's start-up also offers its own digital insurance, which includes liability insurance in its program.