Tencent Invests EUR69m in Germany-Based Clark69m
Tencent has invested in a German insurance robo-advisor called Clark, and the insurtech startup will use the money to boost its growth. The startup has already acquired over 100,000 customers. It plans to use the new funding to build out its product and expand its operations. The funding will help the company scale its product and service offerings, according to a statement.
Tencent invests in German insurance robo-advisor
Tencent has invested EUR69m in insurance robo-advisor Clark, a Berlin-based insurance platform that uses technology and insurance expertise to provide consumers with better insurance choices. The company, founded in 2015, has more than 300,000 customers in Germany and Austria. The funding comes from a number of investors, including Tencent, which led the Series C funding round alongside existing investors like Yabeo and Portag3 Ventures.
The investment will be used to build the company’s platform and drive growth in the national German market. The founders have said they expect to increase their customer base from 300,000 to 1 million customers by the end of 2020. The funding will also be used to develop new products and increase their customer acquisition strategy. The investment will also help the company expand internationally. Clark aims to be the biggest insurance broker in Europe.
Startup has acquired 100,000 customers
German startup Clark69m has acquired 100,000 customers in just one year. This makes it one of the largest digital insurance companies in Europe. According to the company, it has closed over $310 million worth of contracts. This is a 10x increase over the previous year. The company aims to provide a digital insurance experience to consumers through its mobile app.
Funding will be used to accelerate growth
Clark m is a Frankfurt-based software company that develops applications for banks and other financial institutions. The company recently raised EURM in a Series A funding round led by BC Partners. Other investors include Atomico and Apax Partners. The funding will help the company increase its sales and marketing efforts and further develop its product. The company currently employs 50 people.
The funding will also help the company expand its presence in Europe. Frankfurt is a hub for international business, and has the resources and experience to support Clark m as it expands its operations. The city has strong industry links, and is home to companies such as HSBC Holdings plc, Deutsche Bank AG, and Allianz AG. In addition, it has extensive transport connections, making it an ideal location for international businesses.
Insurtech will use funds to build out its business
Insurtech is an emerging sector using technology to make insurance more efficient and convenient. The companies are using big data, artificial intelligence, lifestyle data collected from wearable technology, apps, and the Internet of Things to improve their services and policies. They help customers choose the right coverage for their needs, while minimizing insurance costs. They also make coverage management easy by allowing customers to manage coverage from their smartphones.
Insurtech is a new sector of fintech that is rapidly growing. New generations of innovators are taking advantage of the Internet of Things and AI to create innovative insurance products and services. This is changing the way we protect ourselves and our loved ones. Despite the many challenges faced by the industry, there are many opportunities for insurtech startups.