Not that much time has passed since wefox Group (wefox & ONE Insurance), the Berlin-based insurtech, has closed a record $125 million Series B funding round (March 2019). I am very happy to announce that wefox Group has increased its Series B funding to $235 million after closing an additional $110 million led by OMERS Ventures, Merian Chrysalis, Samsung Catalyst Fund, Mundi Ventures, and existing investors.

The wefox Group is now the number one insurtech company in Europe and, of course, we are all very happy with the recognition this series B funding round brings. However, I believe what really drives and always did motivate everyone at wefox Group is the possibility to change the insurance industry by deploying great technology solutions and an extreme customer focus.

“We knew that technology would play a critical role in reshaping the relationship between customers and the insurance companies of the future. With one eye on the emergence of the fourth industrial revolution, we knew that insurance was ready for innovation and ready to allow us to restore its original purpose: enabling people to be safe,” says Julian Teicke, the co-founder and CEO of wefox Group.

The wefox Group’s executives never lose sight of its core business model goal as they deliver year-over-year strong revenue growth together with providing a strong value proposition for all players, in essence creating a profitable, sustainable business with a true win–win proposition for its clients.

“Launching motor insurance successfully is a big step towards the ONE policy. Our vision is that every customer only signs one policy with us in his or her life. This policy then adjusts to your life dynamically,” says Oliver Lang, the CEO of ONE Insurance.

wefox’ core strategy has always been to change the insurance game by positioning itself to build value for everyone in the ecosystem rather than simply “disrupting” the industry, like other tech companies that have created winners and losers.

The wefox Group — and the whole insurtech industry — believe that the insurance sector is ripe for huge changes for years to come with superior solutions in the B2B (business-to-business) as well as in the B2C (business-to-consumer) sectors. The wefox Group is committed to delivering great solutions for its clients, and we can already say now that wefox has big business growth announcements planned for 2020.

The growth success that the wefox Group enjoys also has to do with the inspiring leadership of Julian (Teicke), and the fantastic work by the co-founders, executives at wefox & ONE Insurance, and the teams that make the successful execution of their insurtech business strategy all possible.