German Insurtech Startup Getsafe Adds $63 Million to its Series B


Shafique Fakih

Getsafe has extended their Series B round that it previously announced in December 2020. In addition to their original Series B round of $30 million, the company is adding another $63 million in fresh capital. Overall, Getsafe has raised a $93 million Series B round.

Investors in this funding round included unnamed family offices as well as Earlybird and Abacon Capital. Some of the company’s existing investors, such as CommerzVentures and Swiss Re, also re-invested in the company.

The German company originally started with a digital-first home contents insurance product. It sells its products directly to end customers through its website and app. Over time, Getsafe expanded to new products, such as personal liability, dog liability, drone liability, bike theft protection and car insurance.

Their service is now active in two markets — Germany as well as the U.K.

With the additional funding, Getsafe plans to get its own insurance license. It has been working on this process for a while as it doesn’t want to act as a broker going forward. Getsafe’s fully licensed insurer should go live soon — at some point in 2021.

The company is also going to invest in its product, expand to new categories and new markets. Up next, Getsafe is thinking about expanding to France, Spain, Italy and Austria.

Edited By:- Shafique Fakih


(Visit their Website:- Getsafe)

(Article Source:- Techcrunch)

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