German insurtech Getsafe announces the closing of a $30M Series B round

After simplesurance raised €15 million, another German insurtech Getsafe announced the closing of a $30 million Series B round. It brought the company’s total funding to $53 million. Leading investor iptiQ, a subsidiary of the Swiss insurance company Swiss Re, joined previous ones Earlybird, CommerzVentures, btov Partners, and Capnamic Ventures. 

Founded in 2015 by CEO Christian Wiens and CTO Marius Simon, Getsafe is a fully digital insurance company from Heidelberg. Following a multi-line insurance approach, the company offers combinable modules to protect all important areas of a person’s life via their smartphones. In November, Getsafe in partnership with iptiQ launched digital car insurance in Germany. Also earlier this year the startup applied for a property and casualty insurance licence from the Federal Financial Supervisory Authority.

Getsafe will spend the fresh funding to promote its services amongst millennials in Germany and continue Europe expansion, including its development in the British market. Besides, the startup wants to extend its Series B round with a second tranche by the first half of 2021. 

iptiQ is a digital platform and B2B2C white-label insurance provider aiming to make insurance more accessible and affordable. iptiQ offers digital, end-to-end, bespoke life, health, property and casualty insurance solutions for its partners, enabling them to sell insurance via their trusted brands.