The Top Three Arguments for Supporting Frankfurt, Germany-based Clark 69m
A Clark with a base in Frankfurt, Germany, received Series C investment in June. The business plans to transform the protection sector by acquiring Innogy. In this article, we examine the company’s growth strategy and plan. Its creators are enthusiastic about the protection sector and are well-versed in how to make money from it. We also talk about Clark’s recent purchase of Innogy.
Company for Digital Insurance Manager
Aiming to simplify insurance for individuals, CLARK is an insurance management app. The business’s digital platform combines the greatest user experience in the sector with independent insurance expert guidance. The business, which has over 300,000 clients, strives to make insurance simple for individuals. It provides a wide range of tools that individuals may use to manage their insurance plans while saving time and money. People may also use its exclusive mobile app to make knowledgeable insurance selections.
With an annual total written premium of over EUR194 billion and more than 50k largely offline brokers, Germany has one of the largest insurance markets in the world. Because of this, the majority of policyholders are unhappy with their insurance companies and are searching for a digital solution to simplify their life. The 2013-founded company Clark attempts to close this gap by offering a digital insurance management experience to a traditional sector. The business continues to expand and has received EUR69 million in Series C investment with the help of its robo-advisory platform and staff of licenced insurance professionals.
Series Funding of EUR69 million
Clark, a German insurtech business, has received Series C investment of EUR69 million. Tencent spearheaded the fundraising round, which also included Portag3 Ventures, White Star Capital, Yabeo, and other businesses. The firm plans to utilise the money to enhance its offering and increase the number of German customers. Over 450,000 people have already joined up, and by 2023, it hopes to have one million.
The team will enhance its development and procurement activities with the help of the additional funding. The Chinese digital juggernaut Tencent will also be crucial to the company’s success. Since its launch in June 2015, Clark has attracted more than 450,000 German customers. By 2023, the business wants to increase the number of customers it serves to over a million. The company’s founders are taking a novel method to providing insurance to their customers.
The clients in Germany
Clark, a German digital insurance manager, has secured a Series C fundraising round for EUR69 million. The funds will support the company’s efforts to increase user base and product offerings in Germany. The business, which was established in June 2015, has already raised EUR59 million. Yabeo, Portag3 Ventures, White Star Capital, and Tencent are a few of the investors. The additional investment will assist Clark in going worldwide. In Germany, it now serves over 450,000 users and aims to reach 1 million by 2023.
RWE and innogy benefit equally from the agreement. One of the biggest generators of renewable energy in the world is RWE. With this purchase, the firm will have over 50 million consumers, 75,000 workers, and a portfolio of renewable energy that has been doubled.
An appropriate cash reward
The united business will have operations in 15 nations. RWE announced the acquisition in March 2018, and the European Commission also gave its approval in September. The innogy General Meeting approved a resolution to transfer minority shareholders’ shares to E.ON as part of the deal, and minority shareholders would also receive fair financial compensation.
Clark is a digital platform that assists clients in managing their insurance contracts and is the most recent entry into the German digital insurance sector. The software evaluates each customer’s insurance position at the moment, provides better prices, and even suggests other policies. The business, which was established in 2015, already has over 300,000 German clients. In 2020, it intends to also grow into Austria. Dr. Marco Adelt and Philip Steiner, who have a keen eye for cutting-edge goods and customer acquisition, are the leaders of Clark.
Final words:
Tencent, a Chinese internet giant, led the EUR69 million Series C fundraising for the business. In the next two years, it wants to extend its operations abroad, including the Austrian market, and now employs over 200 employees across three sites. The business is convinced that it can expand globally and aims to concentrate on establishing a strong reputation in the German and Austrian markets.
