Rumors about Wefox going public
The digital insurer Wefox could go public as early as next year. First, the company is raising money for the Series C.
Is the Swiss-German insurtech Wefox going public? At least that's what the Süddeutsche Zeitung. CEO Julian Teicke is currently looking for investors and new money for Series C financing. The start-up is said to have already secured 100 million euros, with a further 100 to 150 million euros of investment to follow in the coming weeks. After the financing round, Teicke could then aim for an IPO, according to the newspaper. This could apparently be the case as early as next year if Wefox has a valuation in the billions. Last year, the start-up generated a turnover of 100 million euros; this year, turnover is set to triple.
Wefox was founded in 2014 and launched a year later in Switzerland and Germany. More than 400,000 people are insured via the platform.
Wefox already raised 235 million dollars in the last financing round, with the Abu Dhabi sovereign wealth fund and Samsung among the backers.
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