Swiss fintech startup FinanceFox grabs $28 million investment for insurance business
本周三，瑞士保险业创业公司FinanceFox宣布完成A轮融资，总额2800万美元，由Target Global和Horizons Ventures领投。这也是保险科技领域近一段时间内金额比较高的一次融资了。
FinanceFox成立于2015年10月，由Julian Teicke、Hartmur Teicke和Michael John共同创立，三人目前分别担任公司总部、德国分公司和瑞士分公司CEO。FinanceFox目前共有80名雇员，机构分布于苏黎世、柏林和巴塞罗那，并计划于近期进军维也纳。
如今保险科技领域竞争非常激烈，比如Clark、Knip和FinanceFox就在深耕这一领域下的三个细分市场。最近市场中出现的保险科技企业数量非常多。比如，今年5月Embroker就收到了由Cannan Partners领投的1220万美元A轮融资；以色列创业公司Lemonade也在去年年底收获了1300万美元投资；去年10月芝加哥创企Insureon收获3500万融资；以色列平台Next Insurance今年3月融资1300万美元；Trov则在今年4月完成2550万美元C轮融资。
Swiss and German startup FinanceFox revealed a massive $28 million Series A funding round Wednesday morning, led by Target Global and Horizons Ventures. This is one of the latest investments in a growing trend of so-called "insurtech" companies that are starting to eat away at the share of venture capital going to finance startups.
Founded in October 2015, the company is managed by CEO Julian Teicke, with CEO Germany Hartmur Teicke and CEO Switzerland Michael John. They have 80 employees split among offices in Zurich, Berlin and Barcelona with plans to open their Vienna operations soon.
The company's app allows users to consolidate insurance plans and manage all claims in one place. FinanceFox talks up eliminating the middle man in brokerage, but it invites brokers to send their customers to the app in order to have them be organized with their policies.
With 65,000 customers already, they are bullish about their prospects. They pitch themselves as "the point of contact," cutting down on the administrative costs that can weigh down on competitors behind the digital times.
The company has built their business model on receiving reimbursements from insurance companies' for their Q&A service.
They face competition from companies like Clark and Knip, but the three are dealing with one sub-segment of the industry. A number of marketplaces for insurance policies have popped up, many who do not even offer their own plans. Canaan Partners led a $12.2 million Series A funding round for Embroker this past May. Israeli startup Lemonade raised $13 million at the end of last year and Chicago-based Insureon reeled in $35 million in October 2015. Israel-based Next Insurance, which also focuses on SMEs like Embroker, matched Lemonade's round with a $13 million seed of their own in March. Trov, which also has an advanced communication set up for interacting with users, announced a $25.5 million Series C at the end of April.
Two thirds of deals in 2015 dealt with automating the insurance process according to Accenture. CB Insights reported earlier this year that a third of VC deals in the first quarter dealt with health insurance startups, though more businesses were popping up focused on life insurance and policies for renters or businesses. Most deals in the first quarter of the year were in the US, followed by Germany, India, Canada, Scotland and so forth.