Homburger: wefox revolving credit facility and a Series D extension
Wefox the Berlin-based insurtech company, has secured a EUR 50 m revolving credit facility arranged by J.P. Morgan Securities and Barclays Bank, following a USD 55 m second close in its Series D that was completed earlier this year at a USD 4.5 bn valuation with investments from existing and new investors, including Squarepoint Capital.
The new funding is earmarked to further strengthen wefox’s insurance and distribution business, which includes the recent launch of a global affinity business, and developing the technology platform. Founded in 2015 by Julian Teicke, Fabian Wesemann, and Dario Fazlic. wefox is a world leading insurtech that integrates technology with insurance distribution capabilities.
Homburger advised wefox Holding as transaction counsel in the Series D extension funding round and as Swiss counsel in connection with the UK law-governed EUR 50 m revolving credit facility agreement. The team comprised partner Andreas Müller (pictured left), Stefan Blunschi (pictured right), Oriana Schöni and Fabio Anceschi (all corporate / m&a; Technology and Digital Economy), Jürg Frick and Nathalie Scherrer (both financing and Investment Products), and Stefan Oesterhelt and Laetitia Fracheboud (both Tax).
