Insurance technology platform Wefox You have received a total of €151 million in new funds, raised with €76 million in capital, mainly purchased from existing investors, and refinancing of €75 million in existing credit lines. Searchlight Capital Partners Credit Partners Searchlight Modunce Fund II.

This follows the completion of the group’s business restructuring plan, which includes the Wefox Insurance AG based on Liechtenstein and its Italian entities Wefox MGA SRL and Wefox Services Italian SRL

The company said the funding gives it a clear path to achieving profitability in 2025.

The new funding will support WEFOX’s operations in Austria, the Netherlands and Switzerland, focusing on the development of its universal agent model for asset light management and the expansion of its smart insurance distribution business internationally.

In Austria, Wefox operates the most advanced digital platform it has described as a retail insurance broker and uses it as a leading Whlesale broker.

In the Netherlands, it occupies the highest position in the TAF brand’s “life insurance market” through its complete service MGA model.

In Switzerland, the company is expanding its position in retail insurance allocations, aiming to provide individuals with risk-understanding advice.

WEFOX plans to deepen partnerships with insurance providers and expand its local distribution facilities to support sustainable revenue growth and improvements in profit margins in its market.

After the refinancing, the board of directors of Wefox Holding AG was reorganized. Prateek Puri, partner at Searchlight Capital Partners, and Joachim Müller, CEO, joined the board.

Julian Teicke, Fabian Wesemann, Dario Fazlic and Nikolaus Frei resigned.

Commenting on these changes, Mueller said:

“The changing customer needs, new regulatory requirements, and new technical capabilities are changing the insurance value chain. Our strengths and focus on MGA and smart distribution services make us an attractive partner for risk carriers and downstream brokers. The compelling products and our smart, asset-optical business models will create value for our customers, our business partners and our investors.”

Featured Image Credit: Edited by Fintech News Switzerland, based on image Fripke