Germany-based digital insurer GetSafe has extended its series B round to $93m with $63m from investors including reinsurance provider Swiss Re and CommerzVentures, the corporate venturing arm of financial services firm Commerzbank.
The extension also featured venture capital firm Earlybird and several family offices from Germany and Switzerland including Abacon Capital.
GetSafe provides insurance policies through a digital platform and a mobile app, replacing manual paperwork with smart bots and automation and allowing customers to file claims or change their coverage in just a few clicks.
The company offers liability, contents and car insurance in Germany and contents insurance in the UK. It intends to use the financing to fund the acquisition of its own insurance licence by the end of 2021 and strengthn its expansion across Europe.
The company received $30m in a first close of the round led by Swiss Re’s digital insurance subsidiary, IptiQ, in December 2020. CommerzVentures, Earlybird, Btov Partners and Capnamic Ventures also took part in that tranche.
GetSafe had previously collected $17m in a mid-2019 series A round led by Earlybird and backed by CommerzVentures and undisclosed existing investors.
CommerzVentures, Acton Capital Partners and Btov Partners co-led a round of undisclosed size for GetSafe in 2015 that included e-commerce holding group Rocket Internet, Capnamic Ventures, Iris Capital, HW Capital and Partech Ventures.
Earlier the same year, Rocket Internet led a seed round of undisclosed size for the company with backing from HW Capital and the founders of insurance marketplace Check24.