Insurtech firm wefox has secured €151 million in new funding, including a €76 million capital raise from existing investors and €75 million in refinancing through Searchlight Capital Partners’ credit fund, Searchlight Opportunities Fund II.
The financing follows the completion of the company’s business restructuring programme, which included the sale of its Liechtenstein-based carrier, wefox Insurance AG, as well as Italian units wefox MGA S.r.l. and wefox Services Italy S.r.l. The group said the additional funding supports its goal of reaching profitability in 2025.
wefox plans to use the new capital to expand its Managing General Agent (MGA) and insurance distribution operations across existing markets and into new territories. The company currently operates in Austria, the Netherlands, and Switzerland.
In Austria, wefox provides a digital platform for retail insurance brokers and acts as a wholesale broker. In the Netherlands, it operates under the TAF brand, focusing on term-life products through a full-service MGA model. In Switzerland, the firm offers retail insurance distribution and risk advisory services for individuals.
The company stated it would continue to build partnerships with insurers and scale its local distribution platforms. It said these efforts are intended to support revenue growth and improve margins in core and developing markets.
Following the refinancing, wefox Holding AG announced changes to its board of directors. CEO Joachim Müller and Prateek Puri, a partner at Searchlight Capital Partners, have joined the board. Julian Teicke, Fabian Wesemann, Dario Fazlic and Nikolaus Frei have stepped down.
Müller said the insurance value chain is evolving in response to shifting customer needs, regulatory developments, and technological change. He said wefox’s focus on MGA and distribution services positioned it as a suitable partner for both risk carriers and brokers. He added that the company’s asset-light model is designed to create value for customers, business partners, and investors.
He acknowledged the contributions of the wefox team and employees to the company’s recent changes and thanked investors for their continued support. He also recognised the outgoing board members and expressed interest in working with Puri in his new role.
weFox is one of the insurtech in the UK for brokers. Learn more in this guide.
