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Swiss Re subsidiary leads Getsafe’s £22.4 million funding round

Swiss Re subsidiary leads Getsafe’s £22.4 million funding round | Insurance Business UK

Swiss Re subsidiary leads Getsafe’s £22.4 million funding round

Swiss Re’s digital platform iptiQ has become Getsafe’s new lead investor after leading the latter’s US$30 million (around £22.4 million) Series B funding round.

“We are thrilled to have iptiQ as our new lead investor and partner,” said Getsafe founder and chief executive Christian Wiens (pictured). “Together with them and our existing investors, we want to build on our position as the leading insurer for a new generation of customers.

“The latest funding will allow us to significantly accelerate our growth, to consolidate our position as market leader among millennials in Germany and to expand into other European markets.”

Read more: Getsafe announces GoCompare tie-up

The round, which brings the digital insurance company’s total funding to US$53 million (around £39.6 million), was also participated in by previous backers like Earlybird, CommerzVentures, btov Partners, and Capnamic Ventures.

“Getsafe has established itself as a very promising insurtech brand, and we are pleased to lead this funding round,” commented iptiQ EMEA (Europe, the Middle East, and Africa) property and casualty chief executive Andreas Schertzinger, whose camp jointly launched a smartphone-based car insurance product with Getsafe last month.

“As their partner, we will support future growth by combining iptiQ’s digital platform and insurance expertise with their mobile-first distribution model. Together, we will develop digital insurance products that are appealing, relevant, and affordable for their growing customer base.”