Noerr advises Getsafe on a threefold increase in its Series B financing to €80 million
Noerr has advised Getsafe on extending its Series B financing by approximately €55 million to €80 million. The insurtech company already raised €25 million and was able to win the insurance company Swiss Re as a strategic investor in December 2020.
The new investors in the extended financing round feature some of the largest family offices from Germany and Switzerland, including Abacon Capital. Further, existing investors such as Earlybird, CommerzVentures and Swiss Re increased their investment as well. The new equity will also be used to fund Getsafe’s own insurance licence for which Getsafe applied for to the Federal Financial Supervisory Authority (BaFin) last year to be in the position to control the entire value chain. The company intends to drive forward products and innovation for customers even more efficiently using its own licence.
The digital insurer currently serves a quarter of a million customers in Germany and the UK and is the market leader in the target group of first-time insurance buyers. Getsafe offers via an app liability, contents, legal and car insurance products in Germany and contents insurance in the UK.
A Noerr team led by Dominik Rompza and Marc Philip Priesmeyer acted for Getsafe, advising mainly on questions involving corporate law and insurance supervisory law. Berlin-based partner Dominik Rompza already advised Getsafe in connection with the previous financing rounds and the entry of Swiss Re.
Noerr is among the market-leading practices advising investors and founders of growth companies and regularly advises large-scale and complex transactions with a special focus on fintechs and insurtechs. Noerr advised the fintech company Deposit Solutions on its merger with Raisin earlier this year.
Advisors to Getsafe GmbH: Noerr
Dominik Rompza, Marc Philip Priesmeyer, Daniel Fuchs, Dr Laurenz Tholen (all Private Equity/Venture Capital, Berlin), Dr Björn Grotebrune (Corporate, Munich), Dr Thomas Heitzer, Dr Lisa Haseloﬀ, Dr Viktoria Blume (all Insurance Supervisory Law, Dusseldorf), Dr Torsten Kraul (IP/IT, Berlin), Dr Florian-Felix Marquardt, Michael Tommaso (both Tax, Berlin)