Insurance tech startup Wefox raises $400 mn in VC funding

Insurance tech startup Wefox has raised $400 million in a Series D round from investors led by Abu Dhabi state investor Mubadala Investment Company.
VC funding for techWefox will use the VC funding to expand into more countries and to develop its platform.

Swedish payments firm Klarna Bank AB has raised $800 million.

Wefox, which is present in countries such as Germany, Switzerland and Poland, plans to expand in the Netherlands, Wefox founder and CEO Julian Teicke told Reuters.

The latest financing round brings total investment to more than $1.3 billion since Wefox began raising money in 2016.