We recently deep dived into 300+ InsurTech fundraising rounds announced in the European InsurTech scene. This is covering a time period from Q1 2020 to Q2 2023. The idea was to assess how the first quarter of this year compares to previous one, as the startup and tech scenes are currently facing tough time.
Overall, 58 deals have been announced in the German startup scene in the last 14 quarters. This accounts for 19% of all InsurTech rounds unveiled over the same period. This is the third highest number, after the UK and France.
On the other hand, it is interesting to note that Germany was home to €1.591 million invested, which makes it the second largest InsurTech market. This is indeed 32% of overall funding in Europe over the same period. But let’s keep in mind that Wefox accounts for €983m itself!
Nevertheless, there are two unicorns in the German InsurTech space and that ecosystem is quite diverse in terms of business lines and split alongside the value chain. But more recently, this market was quieter than its competitors in terms of the number of deals announced.
* including Austria and Switzerland