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German insurtech Wefox secures $55m debt financing from Deutsche Bank and UniCredit | Fintech InShorts: Latest fintech news, analysis by experts

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German insurtech Wefox secures $55m debt financing from Deutsche Bank and UniCredit

By Laura M

November 7, 2023

Berlin-based insurtech Wefox secures $55 million in debt financing.
Deutsche Bank and UniCredit are the key financiers.
The financing is structured as a convertible debt agreement.
Wefox focuses on global expansion and mergers/acquisitions with the funds.
Increased investments in artificial intelligence (AI) are on the horizon.
Wefox CEO Julian Teicke sees this as a significant affirmation of profitable growth.
Wefox, founded in 2015, operates as a digital insurance company through intermediaries, not directly to customers.

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