investment from Salesforce , and similarly striking a partnership with the American cloud-based software company , Teicke founded what was then known as FinanceFox .
From FinanceFox to wefox Initially an app that allowed consumers to store insurance details in one place , FinanceFox ’ s growth in Teicke ’ s native Germany was rapid – and Teicke soon obtained permissions to sell homegrown insurance products on the platform .
A joint vision between himself and his father , an insurance industry expert , the application created by Teicke tapped into the pain-points felt by consumers and brokers alike – streamlining insurance products and marking the beginning of what insurers today are striving for : consolidating insurance offers into one product offering .
Any trepidation for the success of FinanceFox was quickly vanquished by 2015 , when it ( much like Teicke ’ s EMPAUA ) received US $ 5.5m in investment from SalesForce . Rebranding as wefox , the startup was growing into an established institution . Teicke said at the time : “ Never underestimate the power of your ideas and the impact they can have on the world .”
He was right , in this case at least : by December 2019 , wefox had generated the highest Series A funding of any European insurtech , raising US $ 110m in capital . However , this investment paled in comparison to just two years later , June 2021 , when wefox generated US $ 650m in Series C funding , with lead investment from Target Global . An additional US $ 400m and a year later , wefox is worth US $ 4.5b .
Strong values in a cutthroat world The intersection of technology and sustainability has never been forgotten by Teicke , despite the soaring success of wefox . Throughout the wefox journey , Teicke has maintained responsible business practices , integrating sustainable investment strategies to promote environmental awareness .
“ Sustainable investing is not just about doing good ; it ’ s about doing better ,” says Teicke .
These aren ’ t just pretty words , either . In 2016 , Teicke founded the wefox Foundation to support pressing environmental and social challenges , focusing on reforestation , biodiversity and climate action . With a mission statement believing “ it ’ s time for businesses to take an active role in
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