This is what the Insurtech Getsafe gets

Big plans: The insurance start-up Getsafe raised almost 25 million in a recent financing round. Founder Christian Wiens is hoping for expansion into other European markets and a possible IPO.

This year, start-up Getsafe entered the UK market with its insurance policies. This is not to remain the last expansion. In a new round of financing, the Heidelberg-based company has now raised 24.8 million euros. Getsafe announced its intention to enter at least one more market by the end of 2021. An IPO is also not ruled out: "I am sure that an insurtech startup will go public in Europe in the next three years, and we are one of the candidates," founder Christian Wiens told Reuters

A 50 million round was actually announced for this October, which was not reached. However, Getsafe announced an expanded Series B for the first half of 2021. Investors in the current funding round are old acquaintances such as venture capitalist Earlybird, which was already involved in the first 15-million round in 2019. Berlin-based investors Btov and Capnamic are also on board. Commerzbank and insurer Swiss Re are each investing through their subsidiaries - Commerz Ventures and Iptiq. With the latter, Getsafe has just launched a car insurance product.

In 2015, Marius Simon and Christian Wiens founded Getsafe as an insurance manager. Via app, customers can manage all insurance policies in a bundle, take out new ones or change policies. Since 2017, Getsafe also offers its own insurance policies. The European market came into the sights of the founders in 2019, who want to expand with a financing of 15 million. By its own account, Getsafe has 125,000 customers and is said to be the best-selling German insurance brand among millennials. In 2020, the startup is revamping its design, new logo and new online presence included, it said.