Ottonova raises 34 million euros
Following the Series F financing round, the insurtech company aims to break even soon.
The digital private health insurance company Ottonova has completed its Series F financing with an equity increase of 34 million euros. The current round is led by private equity investor Cadence Growth Capital (CGC). Existing investors and a Munich-based family office are also participating.
Founded in 2017, Insurtech offers private health insurance. The aim is to promote customers' health with personal consultations via chats and other digital services. In addition to private comprehensive health insurance and supplementary health insurance, the start-up's portfolio also includes software solutions for the insurance industry.
"CGC invests in profitable growth companies. This fits in with the times: not growth per se as the primary goal, but a more moderate approach with a very strong focus on efficiency," says Roman Rittweger, founder and CEO of Ottonova. Profitability is the new growth. The current financing round is the last before the start-up reaches the break-even point.
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