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German insurance startup gets 75 million Euro investment

The investment is the largest for the startup so far. Baloise provided around EUR 46 million in 2017 for the construction. Christoph Samwer, the cousin of Rocket Internet boss Oliver Samwer and former Lendico boss, leads the startup. Friday claims that Friday has attracted more than 45,000 customers. The aim is to become the most popular digital insurer in Germany by 2021.

Startup company is investing 75 million euros in the daughter. In addition, the startup of Sevenventures and German Media Pool will receive a media-for-equity deal worth over 39 million. Means: While the investors take over shares in Friday, media services such as advertising space will be made available to him. The investment should accelerate growth and expand the products.

On the website of Friday, car owners should be able to easily and quickly complete insurance for their vehicle. The startup advertises with kilometer-accurate billing, monthly terminability and paperless processing. In May 2018, Friday received an insurance license.

Published inFintechStartups

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