Funding rounds point to pandemic bounce back

Funding rounds raising millions of dollars are pointing to a bounce back in insurtech investment this year after a slump in the international market during the pandemic, GlobalData says.

Wefox, a German-based venture focusing on achieving a better loss ratio when measuring customers risks, raised $US650 million ($839 million) in a series C funding round and reached a $US3 billion ($3.9 billion) evaluation on June 1.