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, the start-up Getsafe also launched its insurance products on the British market. This is not to be the last expansion. The Heidelberg-based company has now raised 24.8 million euros in a new financing round. Getsafe has announced plans to enter at least one more market by the end of 2021. An IPO has not been ruled out either: "I am sure that an insurtech start-up will go public in Europe in the next three years, and we are one of the candidates," founder Christian Wiens told Reuters news agency.

A 50 million round was actually announced for this October, which was not achieved. However, Getsafe announced an extended Series B for the first half of 2021. Investors in the current funding round include 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 involved. Commerzbank and insurer Swiss Re are each investing via their subsidiaries - Commerz Ventures and Iptiq. With the latter, Getsafe has just launched a car insurance product on the market.

Marius Simon and Christian Wiens founded Getsafe as an insurance manager in 2015. Customers can use the app to manage all their insurance policies together, take out new policies or change contracts. Getsafe has also been offering its own insurance policies since 2017. The European market was targeted by the founders in 2019, who want to expand with funding of 15 million euros. Getsafe claims to have 125,000 customers and is said to be the best-selling German insurance brand among millennials. The start-up overhauled its design in 2020, including a new logo and online presence.