Feather raises $4.2 million

German insurance provider Feather  has raised $4.2 million in a Seed round of funding from Transferwise’s founder Taavet Hinrikus, alongside founders or C-level from Monzo, N26, Go-cardless and others.

Founded in 2018 and led by Rob Schumacher (founder, CEO) and Vincent Audoire (founder, CTO and ex-N26 employee), the AI powered insurance advisor (a team of ~23) aimed for the German market takes into account basic things like income, financial responsibilities, and age to find the optimal coverage relevant for the user.

“Through bootstrapping, we built a really healthy business and were actually not looking for funding. We liked that we were forced to build products that customers value – almost. Taavet and Sten were immediately excited by our vision, and in the very first meeting we had, we already developed some great ideas to grow the business together. We are excited to have their functional expertise in B2C fintech but also their company building experience on board” – Rob Schumacher.

“I was really impressed with how far the team has come without funding, and am excited to see another industry be made transparent and digital. There are many parallels to wise, and the potential is there to build an even bigger company.” – Taavet Hinrikus.