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German insurtech platform Hepster raises $10M Series A led by Element Ventures
Hepster, an insurtech platform from Germany, has raised $10 million in a Series A funding round led by Element Ventures. Also participating was Seventure Partners, MBMV and GPS Ventures, as well as previous investors. The funds will be used to broaden the Hepster insurance ecosystem and scale up its network, with an emphasis on automation.
The German insurance market is famously slow at adopting new practices, and Hepster is part of a new wave of insurtech startups in the country taking advantage of this. It allows businesses to 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.
Its products are therefore better suited to the new sector of, for example, shared e-bike schemes and peer-to-peer rental platforms, which are rarely covered by traditional brokers in Germany. However, it also caters to traditional, established industries as well.
About Hepster
Our vision: Insurance as simple as online shopping. By developing individually customized insurance products and integrating them into digital processes and systems with the help of state-of-the-art technologies we revolutionize the insurance. We are Europe's market leader in the field of situational lifestyle insurance and make insurance products accessible for almost every industry. Our innovative solutions enhance the insurance experience for consumers as well as for companies and enable our partners to handle insurances as well as the up and downstream processes in an highly efficient way. In doing so, we stand for a unique combination of many years of expertise in the classic insurance market with the opportunities of digital technologies.
