Mobile Garantie Deutschland, which offers warranty and repair cover for vehicles and affinities, has received an undisclosed investment from Helvetia Venture Fund.
The deal will see Helvetia acquire a stake in the InsurTech and will see their existing insurance partnership extend.
Germany-based Mobile Garantie provides the B2B market with customised warranty services for vehicle dealers and taxi drivers, among others. Its services are currently available in the German and Austrian market and work is underway for entering the Dutch market.
Helvetia head of partner business & innovation Daniel Signer said, “Mobile Garantie is not a classic start-up, but it offers interesting opportunities in the B2B and B2B2C channel.”
Germany’s FinTech sector has seen a significant rise this year, in terms of funding. The first six months of 2019 has seen $2bn deployed across 50 FinTech deals. This figure is already double that of 2018, which only saw $927m invested into German FinTechs.