Wefox raises €151 million

German insurance startup Wefox has raised €151 million comprised of a €76 million capital raise primarily from existing investors and a €75 million credit facility from Searchlight Capital Partners’ credit fund.

The funding follows the successful completion of the group’s business restructuring program, which included the sale of wefox Insurance AG and the Italian entities Wefox MGA S.r.l. and Wefox Services Italy S.r.l.

The new funding, which puts Wefox “on a clear path to profitability” for full year 2025, will enable the company to build out “its strong market positions” in Austria, the Netherlands, and Switzerland, as well as develop its MGA businesses internationally.

“Changing customer needs, new regulatory requirements, and new technological capabilities are transforming the insurance value chain. Our strengths and our focus on MGA and smart distribution services make us an attractive partner for risk carriers and downstream brokers. We believe that our compelling offering and our smart, asset-light business model will create value for our customers, our business partners and our investors. I would like to express my gratitude to my team and all employees who have contributed to our successful transformation, as well as our investors for their continued trust and support. I would also like to thank the outgoing board members for their support and collaboration, and I look forward to working with Prateek on the board.” – Joachim Müller, CEO of wefox Holding AG.