Contacts

Dr. Norman Röchert, LL.M. (Cape Town)

Partner

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Dr. Christian Ahrendt

Senior Associate

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Moritz Meyer-Bruhns

Associate

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Felix Paul, LL.M.

Professional Support Lawyer

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Contacts

Dr. Norman Röchert, LL.M. (Cape Town)

Partner

Read More

Dr. Christian Ahrendt

Senior Associate

Read More

Moritz Meyer-Bruhns

Associate

Read More

Felix Paul, LL.M.

Professional Support Lawyer

Read More

2 June 2021

Taylor Wessing advises OMERS Ventures on US$650 million funding round in Wefox

Wefox Group, a Berlin-based insurtech start-up, has raised $650 million (about €533 million) in a Series C funding round, increasing its valuation to approx. $3 billion. The round was led by Target Global, as well as LGT from Liechtenstein and the Swiss Partners Group alongside existing investors, including OMERS Ventures, Mubadala Ventures, Merian Chrysalis, Samsung Catalyst Fund, Salesforce Ventures and Sound Ventures As in the Series B OMERS Ventures has been advised by the international law firm Taylor Wessing, led by Berlin partner Norman Röchert, on all legal aspects of the Series C financing round.

Wefox was founded in Berlin in 2015 and has roughly tripled its market value in the last two years alone. With the fresh capital, the insurance start-up plans to increase the level of automation of its products and make greater use of artificial intelligence. Further growth into other European countries is also planned: Wefox is currently active in Germany, Switzerland, Austria and Poland, with Italy, France and Spain to follow in the foreseeable future. In the long term, however, the US and Asian markets are also on the project agenda of the Berlin-based start-up.

OMERS Ventures is an investor with a global focus on growth-oriented, disruptive technology companies. The firm provides strategic capital to accelerate growth and scale. As part of OMERS' private equity family, OMERS Ventures supports companies with specialised teams focused on private equity, growth equity and venture capital at all stages of development.
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