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Deutsche Bank, Groupon Alumni’s Startup Valued at $3 Billion

  • Wefox raises $650 million in Target Global-led funding round
  • Berlin firm plans to expand, add health-insurance products
relates to Deutsche Bank, Groupon Alumni’s Startup Valued at $3 Billion

Source: Wefox

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Wefox, an insurance-technology firm founded by former Groupon Inc. and Deutsche Bank AG staff, raised $650 million in a funding round that values the company at $3 billion.

Venture capital firm Target Global led the investment in Berlin-based Wefox, which sells property-insurance products in Germany, Poland and Switzerland and also offers related software.