Wefox

Wefox is a European insurtech platform that revolutionized how insurance companies, brokers, businesses, and customers interact through digital technology. Founded in 2014 by Julian Teicke, Fabian Wesemann, and Dario Fazlic in Berlin, Germany, the company set out with a vision to make insurance 10x better by providing 360-degree advice through a network of advisors and optimizing risk coverage through innovative prevention, assistance, and insurance products. Originally launched as FinanceFox, the company rebranded to Wefox in 2017 after acquiring ONE Insurance.

Unlike many direct-to-consumer insurtechs, Wefox operates a unique B2B2C model, selling insurance products through a combination of in-house and external brokers rather than directly to consumers. The platform offers policies management, claims settlement services, and quotations for various insurance types including household, motor, personal liability, disability, health, and life insurance. At its peak, Wefox served nearly 3 million customers across European markets including Germany, Austria, the Netherlands, Switzerland, Italy, and Poland.

Wefox experienced meteoric growth, raising $1.9 billion in total funding and achieving a peak valuation of $4.5 billion in 2022, making it Europe's leading insurtech unicorn. However, the company faced significant challenges in 2024, including financial losses, business line reductions, and a valuation decline to below $1 billion. In March 2024, founder Julian Teicke stepped down as CEO after nine years, with Mark Hartigan serving as interim CEO before Joachim Müller, former CEO of Allianz Global Corporate & Specialty, was appointed CEO in September 2024.

Under new leadership, Wefox completed a major restructuring, exiting the German and Polish markets while focusing on core markets in the Netherlands, Austria, and Switzerland. In January 2025, Wefox secured €170 million in refinancing led by Searchlight Capital Partners, placing the company on a path to profitability. Despite losing its unicorn status, Wefox continues to operate as a significant player in European insurtech with over 2 million customers and €800 million in annual revenue.