As a hub weXelerate has seen many startups grow, expand and realize great projects. However, it is always wonderful news and makes us proud to share success stories.
The batch II alumni bsurance, an insurtech startup founded in 2017, has successfully completed its Series A financing round. It can therefore be listed among the top 100 insurtech startups within Europe. The startup specialises in “B2B2C” models offering tailor-made insurance products in the sectors financial services, sporting goods, energy, telecommunications, online platforms & marketplaces, tourism and insurance companies. The contact to the end customer is usually not direct, but via different cooperation partners. These partners are mainly companies and marketplaces with a large customer base such as trading companies, energy suppliers, electronics retailers, mobility providers or telecom companies, to name just a few of the potential cooperation partners. Together with its cooperation partners, bsurance wants to change the way people perceive and take out insurance.
From the start bsurance has worked closely with UNIQA. Now UNIQA Ventures, the corporate venture capital arm of Austria’s leading insurance group, has increased its initial investment. “At bsurance, we have invested in an experienced and effective team and a compelling and rapidly upwardly scalable business idea. The exceptional traction of the last few months forms an excellent basis to become the leading digital B2B2C provider in Europe”, explains Andreas Nemeth, CEO of UNIQA Ventures. Furthermore other new investors have been acquired, who can offer strategic benefit and new market access in addition to financial investment. Together these investors will invest €4m in the startup company.
Lorenz Gräff, CEO & Co-Founder of bsurance looks back on a successful year: “While the successful ending of our Series A financing round is the start for the next level of devlopment, it is at the same time the perfect ending of a very successful year.” Besides hard work an innovative ideas Gräff thinks that “the innovation hub weXelerate has played a key role in our success. In March 2018 bsurance was taken on to the Accelerator program together with 52 other startups. The hub and the 4 months program helped bsurance to become such a successful startup.”
from left to right: Alexander Geier (CMO), Lorenz Gräff (CEO), Diana Medanova (COO), Franz-Xaver Burner (CSO), Michael Leitner (Head of Project Delivery)