Germany-based insurance management app developer GetSafe raised an undisclosed amount on Friday in a round co-led by CommerzVentures, the corporate venturing division of financial services provider Commerzbank.
The round, sized at “a high single digit euro amount (€1m=$1.1m),” was also co-led by venture capital firms B-to-V and Acton Capital Partners, the latter of which closed a $200m fund backed by media company Hubert Burda yesterday.
E-commerce group Rocket Internet alo contributed to the round, as did HW Capital and corporate-backed VC firms Iris Capital, Partech Ventures and Capnamic Ventures.
Founded in 2013, GetSafe has developed an app that provides users with an insight into their insurance policies and offers advice on cheaper offerings. The company has signed up more than 130 insurance providers to date.
GetSafe will use the funding to support an international expansion in 2016, and plans to use part of the cash to further develop its technology and grow its market share in Germany.
The company had previously raised an undisclosed amount in an April 2015 seed round led by Rocket Internet that also included HW Capital and the founders of insurance marketplace Check24.