Cologne (Germany), 8 March 2021. The German insurtech platform Hepster has raised USD 10 million in a Series A funding round led by Element Ventures. Also participating was Seventure, GPS Ventures and MBMV, as well as previous investors. According to his own statement, Hepster wants to use the funds to broaden the company’s insurance ecosystem and scale up its network, with an emphasis on automation.
The Osborne Clarke team which advised Hepster was led by Nicolas Gabrysch (Corporate/VC), Nicole Preuß, Till-Manuel Saur and Benedikt Hülsmann (all Corporate/VC), Sonja Riedemann (Employment), Dr. Daniel Walter (InsurTech), Katrin Schröder (Commercial), Antje Günther, Rebecca Ungerechts and Daniel Huschen (Banking), Felix Hilgert (IT), Laura Klein (IP) and Jens Wrede (Tax).
Hepster is part of a new wave of insurtech startups in the country taking advantage of the slow German insurance market in regard of adopting new practices. With the company´s services, businesses can build insurance policies from scratch, matched specifically to the needs of their individual service or industry. E-commerce players, for instance, can then embed these insurance products into the e-commerce journey. Hepster has more than 700 partners.