European insurtech startup Wefox grabs $650 million at $3 billion valuation
German startup Wefox has raised a $650 million Series C funding round led by Target Global. Following this funding round, the company has reached a post-money valuation of $3 billion. Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance.
“It’s much more than we wanted to raise initially. It was a very fast process and essentially we were oversubscribed by 4x or so,” co-founder and CEO Julian Teicke (pictured right) told me.