Wefox

Mark Hartigan will move to chair following a spell as interim CEO.

The company’s investors have also provided EUR 25mn in fresh capital.

JP Morgan and Barclays provided the InsurTech with $55mn in a revolving credit facility.

The fast-growing InsurTech has made headlines for its mega funding rounds in recent years.

The funding round has increased the InsurTech’s post-money valuation to $4.5bn.

The InsurTech also recently hired Dr David Stachon, the former CEO of Generali’s German direct insurer CosmosDirekt, as COO.

In an exclusive interview, CEO Julian Teicke described ambitious plans for more than 70 product launches by the end of 2022, and why he doesn’t need to consider IPOs right now.

The executive has worked for Ergo, Direct Line and Generali.

InsurTech’s staff each receive share options worth €5,000.

The Julian Teicke-led InsurTech confirms 2020 revenue of $143mn.