Germany-based Wefox Group, a data-driven insurance platform, has raised $125 million in a Series B financing round.
The round included participation from European Ventures Fund, a newly-launched investment vehicle of Abu Dhabi’s sovereign wealth fund Mubadala, joined by CreditEase FinTech Investment Fund, a unit of CreditEase.
Wefox intends to use the proceeds for its extension into the European broker market and creating an all-in-one insurance platform, in which all interactions are personalized.
To date, the company has secured a total of $158.5 million in over four funding rounds.