Getsafe raises $63 million

Getsafe has extended its Series B round from last December. The German startup secured an additional $63 million, which brings the total raised in the round to $93 million. Investors include Earlybird, Abacon Capital, CommerzVentures, Swiss Re and some unnamed family offices.

Getsafe plans to use the money to fund its own insurance licence by the end of 2021 and to accelerate its European expansion. The company began offering renters insurance in Germany in late 2017, and has introduced a car insurance product at the end of last year. It also launched its renters insurance product in the UK in 2020. Currently, one quarter of Getsafe’s total growth is already generated through the British market.

“We are delighted to work with the team surrounding CEO Christian Wiens. Getsafe’s vision to excite people with a digital insurance experience, and to sustainably change this industry is a fantastic journey to be part of. At Earlybird, we invest in innovative and scalable technology companies that have the potential to revolutionise entire industries. The disruption of the insurance sector is well underway and holds lots of growth opportunities. Getsafe is uniquely positioned to bridge the gap between traditional insurance distribution and the needs of a new generation of customers across Europe.” – Christian Nagel, partner at Earlybird.