hepster closes 10 million euro financing round

The Rostock-based company hepster has secured 10 million euros in a recent financing round despite the difficult market situation. The aim of the round is to expand into new markets and strengthen both profitability and sustainable growth.

Rostock - The InsurTech company hepster has received around 10 million euros (11 million US dollars) in a further financing round from existing and new investors such as Element Ventures, Seventure Partners and another company. The current Series B capital increase is a mixture of equity and debt.

We are delighted by the unreserved confidence of our investors, but also by the confidence of our entire team, which has delivered outstanding performance over the past seven years.

Christian Range, CEO & Co-Founder hepster

Despite the difficult times on the venture capital market for start-ups, hepster was able to close another financing round with existing and new investors due to its growth and the strengthening of its market position. The company not only impressed with positive business figures and platform expansions, but also with strong B2B partnerships. By gaining new cooperation partners, hepster was able to further consolidate its position as one of the leading providers of embedded insurance in Europe. The investment confirms to the founding trio around Hanna Bachmann, Alexander Hornung and Christian Range that they are on the right track even after seven successful years on the insurance market.

The insurance industry is becoming increasingly digitalized, automated and simplified. Companies are therefore increasingly reliant on additional offers for their customers.

Antony Baker, Claret Capital Partners

Founded in 2016 in Rostock, InsurTech company hepster offers an API-driven ecosystem that enables companies from all sectors to integrate tailored and individual insurance policies into their offerings. With its embedded insurance approach, hepster strives to create the best insurance experience for its customers and partners. The company's portfolio includes insurance for mobility, electronics, equipment, travel, animals and accidents. Since 2017, hepster has already convinced over 2,500 partners and more than 250,000 customers with over 500 customized insurance products. The company has been recognized for its customer service and insurance services with more than 15 awards, including from TÜV Saarland and renowned magazines. hepster now operates in Germany and Austria and has also been present in France since spring 2022.

Our decision to continue supporting hepster is based on their promising business model, but above all on the cooperation to date.

Michael McFadgen, Element Ventures

We already reported on an 8.4 million financing round for hepster on Startbase in 2021. We also reported on the startup's collaborations with Insurly and Bikefinder.