Wefox could soon close a financing round

There were already rumors about an IPO of Wefox at the beginning of 2021. Now the plans have receded into the background - and a new financing round is becoming more likely.

Wefox is aiming for another round of financing. In a new round of financing, the valuation of the start-up could even double, industry experts told Handelsblatt.

Wefox has already existed since 2014 and is based in Berlin. The insurtech operates a platform for insurance providers and brokers. In addition, Wefox sells its own insurance policies.

Actually, the startup did not want to raise any more money from investors after its last financing round in June last year. At that time, Wefox had received $650 million from investors including Target Global, FinTLV, Partners Group and Liechtenstein bank LGT.

Instead, Wefox planned to seek an IPO. However, Russia's war of aggression against Ukraine is currently weighing on the market environment. "If the price is right, we would raise money again in a private financing round," Wefox CEO Julian Teicke now told Handelsblatt.