Deutsche Bank and UniCredit back $4.5 billion insurance startup Wefox with $55 million in fresh funds
Publishing timestamp: 2023-11-03 02:20:51
Summary
German insurance technology group Wefox has raised $55 million in debt financing from Deutsche Bank and UniCredit. This brings the total funding raised by Wefox this year to $160 million. The funds will be used to accelerate global expansion and focus on mergers and acquisitions. Wefox works with brokers to distribute its insurance products and is also exploring new models of selling insurance. The company is backed by venture capital firms and is investing in artificial intelligence.
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