Helvengo pivots to B2B
It appears that Swiss insurance startup Helvengo has pivoted.
The startup, which originally offered small business insurance online and through brokers, is now targeting carriers and sales partners with a “full-service insurance platform.” Browsing through the Helvengo website, we couldn’t find any option for customers or brokers to purchase a policy.
The old version of the site also featured a broker login tab, which isn’t available today.
Founded in 2020 by former Wefox employees, Helvengo raised $4.5 million last year in a round led by TX Ventures, the venture arm of TX Group – the largest media company in Switzerland. The startup featured professional liability, cyber, and D&O products, and it also launched legal protection coverage together with Coop Rechtsschutz AG.
We reached out to Helvengo and received the following response: “We are still selling insurance policies for SMEs, particularly through the broker channel. The brokers still log in from our website and use our platform to quote and bind these policies. Due to high demand from multiple stakeholders in various geographic locations, we have extended our approach to bring our MGA as a service to more customers, be it insurers or distribution partners.”
Clearly, Helvengo is focusing on just one approach.