Getsafe closes $30 million Series B round led by Swiss Re’s iptiQ

By Megha Bhattacharya

European digital insurance company Getsafe has secured $30 million in a Series B funding round led by Swiss Re’s digital platform iptiQ. The round also saw the participation of existing investors such as g Earlybird, CommerzVentures, btov Partners and Capnamic Ventures. Getsafe plans to extend its funding with a second tranche to be closed ahead of the receipt of the company’s own insurance licence, scheduled for the first half of 2021.

“We are thrilled to have iptiQ as our new lead investor and partner. Together with them and our existing investors, we want to build on our position as the leading insurer for a new generation of customers. The latest funding will allow us to significantly accelerate our growth, to consolidate our position as market leader among millennials in Germany and to expand into other European markets,” explained Christian Wiens, founder and CEO of Getsafe.

Getsafe is a fully digital insurance company that aims to help people cover themselves and their universe from their smartphone. Using technology, the company offers renters, legal and car insurance and plans to further expand its product offering into health and life. The Getsafe app is available to customers 24/7 and 365 days a year, allowing them to file claims or change their coverage in real-time.

“Getsafe has established itself as a very promising insurtech brand, and we are pleased to lead this funding round,” says Andreas Schertzinger, CEO at iptiQ EMEA P&C. “As their partner, we will support future growth by combining iptiQ’s digital platform and insurance expertise with their mobile-first distribution model. Together, we will develop digital insurance products that are appealing, relevant and affordable for their growing customer base.”