ease acquires Helvengo

ease GmbH, a German insurance broker specializing in real estate coverage, has acquired Helvengo GmbH, the German subsidiary of Swiss insurance startup Helvengo.

ease and Helvengo have been working together to develop an IoT-based building insurance solution and the acquisition will help leverage synergies and further expand data-driven IoT products. According to its site, the Helvengo IoT-based building insurance coverage is offered in partnership with Munich Re and UNIQA Liechtenstein.

Separately, Helvengo sold its core business to a strategic investor. As a result, Helvengo will shut down in an orderly manner.

The startup, which was founded in 2020 by former Wefox employees, originally launched to offer small business insurance online and through brokers. In 2023, it introduced an enterprise offering as it shifted its focus to a B2B model.

Helvengo publicly disclosed ~$4.5 million in funding.