Taylor Wessing advises OMERS Ventures on US$ 110 million Series B extension in Wefox

Wefox Group, the Berlin-based insurtech startup behind the consumer-facing insurance app and carrier One and the insurance platform Wefox has raised further US$ 110 million in a second tranche of its Series B. The Series B extension was led by OMERS Ventures, the venture capital arm of Canadian pension fund OMERS. Merian Chrysalis, Samsung Catalyst Fund and Mundi Ventures also participated, along with existing investors. The International law firm Taylor Wessing, led by Berlin Partner Norman Röchert, advised OMERS Ventures on all legal issues related to the financing round.

The Series B extension follows an earlier Series B of US$ 125 million, led by Abu Dhabi government-owned Mubadala Ventures, with participation from Chinese investor CreditEase. Wefox’s existing investors include Target Global, Salesforce Ventures, Seedcamp, Idinvest and Hollywood actor Ashton Kutcher’s investment vehicle, Sound Ventures.

Since launching in 2015, wefox Group has grown its sales to over US$ 100 million and with nearly 400 employees serving more than 500,000 customers in six countries, wefox Group belongs to Europe’s leading and fastest growing insurtech start-ups.

OMERS Ventures is a multi-stage investor in growth-oriented, disruptive technology companies around the globe. OMERS Ventures provides patient, strategic capital to accelerate growth and scale. As part of the private equity family at OMERS, OMERS Ventures support companies at all stages of their development with specialized teams focused on private equity, growth equity and venture.

Legal Advisor OMERS Ventures

Taylor Wessing: Lead Dr. Norman Röchert (Partner, Corporate), Thanos Rammos (Partner, IT), Dr. Lea Maria Siering (Banking & Finance), Stephan Meyer (Associate, Corporate), Nico Jänicke (Salary Partner, Employment), Johanna Charlotte Clausen (Associate, IT), Julian Pier (Associate, Employment) all Berlin