Wefox Raises €151M to Expand Austria, Netherlands, Switzerland Markets

Wefox, a German insurtech company, has raised €151 million in new funding, combining a €76 million capital increase primarily from existing investors and a €75 million credit facility from Searchlight Capital Partners. This funding follows the company's recent restructuring, which involved selling its Liechtenstein-based carrier and Italian units, and aims to put Wefox on a clear path to profitability by 2025. The company plans to use the capital to expand its Managing General Agent (MGA) and insurance distribution operations across Austria, the Netherlands, Switzerland, and into new international markets. Wefox currently operates advanced digital insurance platforms in these core markets, including wholesale brokerage and term-life products, and aims to strengthen partnerships with insurers while scaling local distribution to drive revenue growth and margin improvement. CEO Joachim Müller highlighted the evolving insurance value chain due to customer needs, regulatory changes, and technology, emphasizing Wefox's asset-light business model as a competitive advantage for partners and investors. The company also announced changes to its board of directors as part of its ongoing transformation and growth strategy.