Element increases financing round to 66 million euros

The Berlin-based insurtech already raised 50 million euros last year, and is now receiving a further 16 million euros from new and existing investors.

The insurtech Element has gained two new investors and thus increased its current financing round to 66 million euros. The British investment company Witan Group and the investor Ilavska Vuillermoz from Luxembourg, which is also involved in fintechs such as Penta and N26, are new participants. Together with existing investors such as Finleap, Signals Venture Capital and Mundi Ventures, Element currently raised 16 million euros.

The Berlin-based company offers a white-label solution for insurers and has held an insurance license from Bafin since 2017; customers include Volkswagen and Signal Iduna. Last August, Element raised the first part of its financing round of 50 million euros. Element remains silent about a valuation.

On LinkedIn, CEO Christian Macht of Element shares his joy about the new funding: "I am very proud of the team and what we have achieved in the last few months, let's keep this momentum going and keep rocking in 2021!"