8.4 million for insurtech Hepster

The Rostock-based start-up develops highly specialised insurance products and sells them digitally. New money is now coming from Great Britain and France.

Insurtech Hepster has successfully closed its Series A funding round. The Rostock-based company was able to raise 8.4 million euros. The old shareholders GPS Ventures and Mittelständische Beteiligungsgesellschaft Mecklenburg-Vorpommern are again involved. New investors are also getting on board: both London-based venture capitalist Element Ventures and Paris-based investor Sevenventure Partners are now on board.

Hepster develops highly specialized insurance offerings, some of which the company markets in partnership with other companies. Among other things, the startup, founded in 2016, offers insurance specifically for e-bikes. "Hepster is the pioneering company in this space, and its focus on embedded insurance will pay dividends in the years to come," Element Ventures partner Michael McFadgen said, expressing optimism about the entry.

Hepster is backed by Alexander Hornung and Christian Range, as well as Hanna Bachmann. Hepster says it has 45 employees.