wefox secured €100 million in debt and equity

wefox, a Berlin, Germany-based insurance company, announced that it completed a funding round totalling €100 million ($122.5M).

The money is a combination of 25 million debt and 75 million equity ($88M) via a convertible note. Backers include Harbert Management Corporation. The funding will be used to help wefox continue its expansion of its platform and insurance services in the DACH region and across Europe.

wefox, founded in 2015 by CEO Julian Teicke, built an operation of selling all types of insurance via digital channels. The company works works with a variety of insurance brokers, bringing them under one sales platform and provides a consumer tool platform helping consumers to seek tailored insurance policies for their needs in a fast, digital and easy to manage way.

Wefoxhas  revenues of $130 million and employs nearly 500 people serving more than 500,000 customers in nine countries.