Insurtech startup Frankfurt has announced that it has raised EUR69 million from Tencent, a Chinese technology company. The company has already raised EUR59 million in previous funding rounds and aims to become a global leader in digital insurance. It has a total of over four50,000 customers in Germany, but has not yet achieved significant revenue growth. The money will help Clark expand its product offering and increase user acquisition in Germany.
Tencent invests EUR69 million in frankfurt germanybased insurtech company Clark
German insurtech company Clark has raised EUR69 million in a Series C funding round led by Tencent. The money will help the company expand operations and accelerate product development. The company has signed up over 450,000 customers in Germany and plans to expand to other markets. The investment will also be used for recruitment efforts. Clark is a digital insurance broker that lets customers buy and manage insurance products. Its platform also helps consumers keep track of claims and policies.
The investment will help the company expand its digital platform, which enables customers to manage their insurance contracts. The technology will analyze a customer’s insurance situation and compare different policies to provide better rates. The company was founded in 2015 and currently serves more than 300,000 customers across Germany and Austria. The investment will also help expand the company’s service offerings globally. And, while the company has been investing in insurance for over a decade, it still has a lot of room for growth.
Company has raised EUR59 million in previous funding rounds
Frankfurt digital insurance manager Clark has raised EUR69 million in a Series C funding round. The investment comes from Tencent, Portag3 Ventures, White Star Capital and Yabeo. The funds will be used to expand the company’s product and increase its client base. The company currently serves around 450,000 customers in Germany, and hopes to increase that number to one million by 2023. It plans to use the funds to boost its AI-based technology, as well as its efforts to expand its user base in the German market.
It aims to become a global leader in digital insurance
Frankfurt its latest EUR69m Series C funding round, Clark is well on its way to becoming a global leader in digital insurance. The company has already proven its concept and also execution. It is aiming to expand into other European countries and Asia. Founder and also CEO Christopher Oster hopes to create a product that will offer customers a seamless experience. He says his company’s products will help people save time and also money.
The company offers a mobile app that will allow users to manage their insurance contracts and get a quote. It also provides information on tariffs and also allows users to search for different types of insurance policies. Tencent is delighted to invest in Clark and will help it continue its growth in the insurtech industry. The company was founded in June 2015 by Oster, Steffen Glomb, and also Marco Adelt. Its Austrian branch was launched in 2020 and is being managed by Philip Steiner and Marco Adelt.
It has over 450,000 customers in Germany
A new round of financing has helped the German insurtech firm Clark, which provides a computerized protection supervisor, expand its procurement efforts and also grow its customer base. The company currently serves over 450,000 customers in Germany, and aims to serve a million of them by 2023. It has also received funding from RWE, the world’s largest producer of renewable energy, and is planning to double its renewable energy portfolio. The company plans to employ more than 75,000 people globally.
The company is one of the largest in the world, with EUR194 billion in gross written premiums and 50k mostly offline brokers. Its digital platform offers insurance quotes and policy management and claims. The company is now looking to expand its product and reach more customers, especially in Germany, where it has over 450,000 customers. This latest funding round from Tencent will allow Clark to scale its operations and reach a wider user base.