hepster closes 10 million euro financing round

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

Rostock, Germany - InsurTech company hepster has received around €10 million ($11 million) in another financing round from existing and new investors including Element Ventures, Seventure Partners and another firm. The current Series B capital increase is a mix of equity and debt contributions.

We are delighted with the unwavering confidence of our investors, as well as the confidence of our entire team, who have delivered outstanding performance over the past seven years.

Christian Range, CEO & Co-Founder hepster

Despite the difficult times in the venture capital market for startups, hepster was able to close another round of financing with existing and new investors due to its growth and strengthening of its market position. The company convinced not only with positive business figures and platform extensions, 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 in the insurance market.

The insurance industry is becoming increasingly digitalized, automaWsized and simplified. Companies are thus increasingly dependent on additional offerings for their customers.

Antony Baker, Claret Capital Partners

Founded in 2016 in Rostock, Germany, InsurTech company hepster offers an API-driven ecosystem that enables companies across all industries to integrate tailored and individual insurance into their offerings. Through its approach of so-called embedded insurance, hepster strives to provide the best insurance experience for its customers and partners. The company's portfolio includes insurance in the areas of mobility, electronics, equipment, travel, pets 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 to support hepster is based on their promising business model, but above all on the cooperation we have enjoyed to date.

Michael McFadgen, Element Ventures

Back in 2021, we reported on Startbase about an 8.4 million financing round of hepster. Further coverage took place on the startup's collaborations with Insurly and Bikefinder.