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