Getsafe receives European insurance license

Getsafe received its insurance license from Germany’s financial regulator, BaFin. The license will allow Getsafe to accelerate its expansion to the rest of Europe. The company has closed a reinsurance agreement with Swiss Re that co-led its $93 million Series B round.

The German startup, which is available in Germany and the UK and offers home and car insurance, plans to expand into more verticals such as life and health in the coming years. New European markets are also on the horizon.

“We have a quarter of a million young customers who will grow with us for an IPO. We’re growing our customer base faster than our competitors and can soon offer more complex products. The insurance license gives us the necessary freedom to take unconventional paths and to realize innovations quicker than before. In the long term, we want to offer our customers holistic insurance coverage from a single source. Now we’re really getting started.” – Christian Wiens, CEO and founder of Getsafe.