Global law firm White & Case LLP has advised wefox Holding AG, a leading pan-European digital insurance business and insurance distribution platform, on the preparation, execution and closing of its US$650 million Series C financing. With a post-money valuation of US$3 billion, wefox is one of the highest valued InsurTechs.
The equity financing was led by Target Global with new investors including LGT, Partners Group, Jupiter, Decisive, ACE & Company and FinTLV. Existing investors including OMERS, G Squared, Merian, Horizon Ventures, Mubadala, Salesforce Ventures, Speedinvest and Seedcamp also participated in the Series C financing. Total funding of wefox since 2016 increased to US$910 million.
The White & Case team which advised on the transaction was led by local partner Sebastian Pitz (Frankfurt) and partner Stefan Bressler (Frankfurt and Hamburg) and included partners Thilo Diehl, Gernot Wagner, Jost Kotthoff, Andreas Lischka and Bodo Bender (all Frankfurt), local partner Sebastian Stütze (Hamburg), counsel Sascha H. Schmidt (Frankfurt) and associates Agmal Bahrami, David Smith, Heinrich Nemeczek, Marco Siemers and Anna Dold (all Frankfurt).
The wefox in-house legal team was led by Hilmar Hamm, Head of Legal Corporate, Lina Muellenberg, Head of Legal Commercial and Georg Dirschmid, General Counsel, and included Ángel Moraleda, Michal Szczepaniak and Jan Sienicki, all Legal Counsel.
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