Insurance Startup Wefox Raises $650 Million At $3B Valuation

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Summary List PlacementBerlin's Wefox has hit a $3 billion valuation after raising a $650 million mega-round, a record figure for an insurance startup. Founded in 2015, the company offers direct-to-consumer insurance products alongside its main platform, which connects brokers to customers. It has previously said it wants to become "the Stripe of insurance", in reference to the ubiquitous payments platform. Speaking to Insider on Friday, Wefox CEO Julian Teicke said the firm wanted to be the "dominant player", and that the startup could have gobbled up as much as $1 billion in funding for this Series C round.

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