Wefox secures EUR 151 million funding
Following the successful completion of the wefox’s business restructuring program, the insurtech company secured EUR 151 million. This consisted of a EUR 76 million capital raise primarily from its existing investor base as well as refinancing of an existing credit facility with EUR 75 million from Searchlight Capital Partners’ credit fund, Searchlight Opportunities Fund II.
The completion of the Group’s business restructuring program, including the closing of the sale processes for the Liechtenstein-based wefox Insurance AG and the Italian companies wefox MGA S.r.l. and wefox Services Italy S.r.l., puts wefox on a clear path to profitability for the full year 2025. The new funding will enable wefox to build out its strong market positions in Austria, the Netherlands, and Switzerland and to develop its asset-light Managing General Agent (MGA) and smart insurance distribution businesses internationally.
In Austria, wefox offers the most advanced digital platform for retail insurance brokers in the local market that has allowed it to become the leading wholesale broker. In the Netherlands, wefox is the #1 player in the Dutch term-life market under the TAF brand, providing award-winning customer propositions with its full-service MGA model. In Switzerland, wefox is a top-ranked player in retail insurance distribution, continuously expanding its customer offering to provide holistic risk advice for individuals. By further strengthening its partnerships with insurance companies and by scaling its local distribution platforms, wefox is positioned for sustainable revenue growth and margin expansion in its current markets and beyond.
With the successful completion of the refinancing, the composition of the board of directors of wefox Holding AG has changed. Prateek Puri, Partner at Searchlight Capital Partners and Joachim Müller, CEO, have joined the board. Founders Julian Teicke, Fabian Wesemann, Dario Fazlic and Nikolaus Frei have now left the board.
Joachim Müller, CEO of wefox Holding AG, commented: “Changing customer needs, new regulatory requirements, and new technological capabilities are transforming the insurance value chain. Our strengths and our focus on MGA and smart distribution services make us an attractive partner for risk carriers and downstream brokers. We believe that our compelling offering and our smart, asset-light business model will create value for our customers, our business partners and our investors.”
(Press release / SK)