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Insurance coverage firm Hellas Direct has raised €30m ($32.5m) in its newest funding spherical to assist proceed its progress into 2024.
Following €155m in written premiums and a 900,000-strong buyer base in 2023, Hellas Direct is prepared for additional enlargement due to its new funding and buyers.
The funding will fortify Hellas Direct’s progress, increase its solvency capital, and assist enlargement in each present and new markets throughout central and southern Europe. It at present works throughout Greece, Cyprus and Romania.
As well as, the insurance coverage agency will use the funding to enhance buyer providers with an emphasis on mobility and residential ecosystems.
ETF Companions was a brand new investor on this funding spherical, becoming a member of Portage ventures, the European Funding Financial institution and lots of extra.
Alexis Pantazis, co-founder and govt director of Hellas Direct, mentioned: “We’re thrilled to associate with ETF Companions. Their assist will probably be essential in accelerating our mission to combine sustainability and resilience into our insurance coverage merchandise. As we glance to the longer term , we’re extra dedicated than ever to innovating and delivering options that handle the rising dangers and pressing challenges of local weather change. Now’s the time for motion!”
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Emilios Markou, co-founder and govt director of Hellas Direct, added: “We’re very glad to announce the assist of ETF Companions in Hellas Direct. We contemplate it one other alternative to bolster our present actions and ship our subsequent steps in markets that are usually neglected by world powerhouses. Our goal is to at all times innovate and use expertise as a aggressive edge for our clients’ and companions’ profit.”
Robert Genieser, managing associate at ETF Companions, commented: “Hellas Direct embodies the innovation and dedication to sustainability that we search for in our investments. They’ve developed a deep understanding of the insurance coverage business and demonstrated spectacular progress by means of the deployment of their superior expertise platform and appreciation for the native markets. Creating and deploying insurance coverage merchandise that assist individuals adapt to the results of local weather change will probably be more and more vital going ahead.”
Earlier in February 2024, Coverdash, an insurtech firm centered on SMEs, raised $13.5m in a Collection A funding spherical.
Nyca Companions led the spherical, which additionally noticed the participation of present buyers corresponding to Bling Capital, AXIS Digital Ventures, Tokio Marine Future Fund, Enlargement VC and Cameron Ventures, amongst others.
This funding will allow the corporate to boost its embedded associate community, widen its insurance coverage service panel and increase its headcount.
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