Germany-based InsurTech company wefox has secured €151 million in a funding round aimed at expanding its MGA (Managing General Agent) and smart insurance distribution strategy across Europe. This move includes €76 million in equity from existing investors and €75 million in refinancing from the credit fund of U.S.-based Searchlight Capital Partners. The funding will support wefox’s expansion in Austria, Switzerland, and the Netherlands, with a focus on asset-light, tech-driven insurance services.
Germany-based wefox, a prominent InsurTech company specializing in technology-driven insurance distribution and MGA (Managing General Agent) services, has raised €151 million to support its European expansion and strategic transformation.
This funding package includes a €76 million capital infusion from existing investors and €75 million in refinancing support from the credit fund of Searchlight Capital Partners, a U.S.-based private investment firm.
Wefox operates in several European markets, offering digital MGA services through a network of brokers and insurers. The company also provides retail insurance under brands like TAF in the Netherlands. The latest funding will accelerate wefox’s expansion in Austria, Switzerland, and the Netherlands, and help strengthen its international smart distribution platform.
The company has also undergone a governance shift. Following the refinancing, Prateek Puri, Partner at Searchlight, and wefox CEO Joachim Müller have joined the board. Former board members Julian Teicke, Fabian Wesemann, Dario Fazlic, and Nikolaus Frei have stepped down.
Commenting on the transformation, CEO Joachim Müller said,
Changing customer needs, new regulatory requirements, and new technological capabilities are transforming the insurance value chain. Our focus on MGA and smart distribution services makes us an attractive partner for risk carriers and downstream brokers.”
Joachim Müller, CEO of Wefox
Müller emphasized the value of wefox’s asset-light business model, which is designed to generate long-term value for customers, partners, and investors. He also extended gratitude to outgoing board members and welcomed the collaboration with Puri going forward.
Wefox aims to leverage the fresh capital to reinforce its market presence and become a leading force in modernizing insurance distribution across Europe.
