Funding round
wefox Series D
wefox, which works in digital insurance platform development in Zurich, raised $400M in a Series D round announced on 12 Jul 2022, led by Mubadala, at a $4.50B post-money valuation. 8 firms took part. It is wefox's third venture round on record; the one before was a Series C in Jun 2021.
$400M
Amount raised
$4.50B
Post-money valuation
$3.00B pre-money
8
Investors
1 lead
1.5x
Step-up from the Series C
$3.00B in Jun 2021
8.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced wefox at $4.50B after the new money, 1.5 times the $3.00B of its Series C (Jun 2021). The $400M bought investors about 8.9% of the company. It came 13 months after wefox's Series C. It is 30% of the $1.35B wefox has raised in the venture rounds on record. wefox raised again 36 months later: a Growth round of $178M in Jul 2025, at $4.50B post-money.
wefox's funding rounds
wefox has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Mubadala led the round with 7 other firms.
Lead investor
- Mubadala backs 42 venture-backed companies new investor
Also in the round
- EDBI backs 67 venture-backed companies new investor
- Eurazeo backs 103 venture-backed companies new investor
- Lightrock backs 62 venture-backed companies new investor
- backs 6 venture-backed companies new investor
- backs 97 venture-backed companies new investor
- backs 67 venture-backed companies new investor
- Target Global new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series D rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was 4.0 times the median. The closest in time, other companies' Series D rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pie Insurance Insurance - Agents, Carriers & Brokers | 1 Sep 2022 | $315M | not disclosed | Centerbridge Partners and Allianz X |
| Insurance - Agents, Carriers & Brokers | 12 Apr 2022 | $200M | $2.20B | Goldman Sachs Asset Management and B Capital |
| Kin Insurance Insurance - Agents, Carriers & Brokers | 1 Mar 2022 | $82M | not disclosed | QED Investors |
| Insurance - Agents, Carriers & Brokers | 1 Nov 2022 | $70M | not disclosed | Dawn Capital |
| Devoted Health Insurance - Agents, Carriers & Brokers | 8 Oct 2021 | $1.20B | $12.70B | not named |
| Insurance - Agents, Carriers & Brokers | 27 Oct 2021 | $255M | $1.10B | General Atlantic and Multiples |
| Insurance - Agents, Carriers & Brokers | 4 Oct 2021 | $100M | $900M | Thomvest Ventures and OMERS Private Equity |
| Insurance - Agents, Carriers & Brokers | 14 Oct 2021 | $20M | $1.35B | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did wefox raise in its Series D round?
wefox raised $400M in its Series D round, announced in Jul 2022.
Who led wefox's Series D round?
Mubadala led it, with EDBI, Eurazeo, Lightrock, LGT Capital Partners and Horizons Ventures and 2 more.
What was wefox's valuation at the Series D round?
$4.50B post-money ($3.00B pre-money).
How does it compare with other Series D rounds in Insurance - Agents, Carriers & Brokers?
9 Series D rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was 4.0 times the median.
Did wefox raise again after this round?
Yes: a Growth round in Jul 2025 of $178M at $4.50B post-money.