Switzerland-based insurance management app developer FinanceFox raised $28m on Wednesday in a series A round that featured Salesforce Ventures, the corporate venturing arm of cloud computing company Salesforce.com.
The round was co-led by venture capital firms Target Global and Horizons Ventures, with participation from Idinvest Partners, Speedinvest, Seedcamp, AngelList and Victory Park Capital.
FinanceFox has developed a smartphone app and web-based platform that lets consumers handle all their insurance policies from a unified interface. It also acts as a broker for users, providing advice on policies and acting as the sole point of contact.
The cash will allow FinanceFox to increase its marketing and sales activities, enhance its product and expand into new markets including Austria in the fourth quarter of 2016.
Salesforce Ventures had previously led the startup’s $5.5m seed round in January 2016, which also included AngelList, Idinvest Partners, Seedcamp and Speedinvest.