Strüngmann brothers invest in insurance start-up Getsafe

In its latest financing round, the insurance start-up Getsafe raised 55 million euros. Among the investors were Thomas and Andreas Strüngmann.

According to a report from Finance Forward the Strüngmann brothers have newly joined the Heidelberg-based start-up Getsafe in the record-breaking funding round. Before the Series B financing round, Getsafe was worth 25 million euros. Now the total volume is 80 million euros.

Thomas and Andreas Strüngmann are best known as the founders of the drug company Hexal. In 2005, they sold the company to Novartis for around seven billion dollars. After that, they supported various companies in the healthcare sector and start-ups. From 2008, they financially supported the Mainz-based company Biontech. The health app Temedica, the refrigeration technology company Efficient Energy and the moving start-up Movinga are also part of their portfolio.

In addition to the Strüngmanns, Abacon Capital and several family offices from Germany and Switzerland have also joined Getsafe. Earlybird, CommerzVentures and Swiss Re have also invested again in the start-up, which was founded in 2015. Getsafe offers liability, household, motor and legal protection insurance via an app. Now the start-up not only wants to broker insurance, but also offer its own and is applying for an insurance license.

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