German InsurTech platform Clark has reportedly collected â‚¬69m in its Series C round, which it will use to increase user acquisition.
The funding round was led by Tencent, with previous backers Portag3 Ventures, White Star Capital and Yabeo also committing funds, according to a report from FinSMEs.
With the equity, the InsurTech is increasing its user acquisition and product investment.
Clark offers a mobile app that lets consumers manage all their contracts online in one location. Users will receive an assessment of their insurance situation and tariff details to give them all the important information at quick access.
Users can search for policies including, personal liability, household items, car insurance, private health, legal protection, accident insurance, and private health insurance.
Previously, the company raised $29m in its Series B back in 2018 from Portag3 Ventures, White Star Capital, Coparion, Kulczyk Investments and Yabeo Capital.
There have been a number of InsurTech companies to close funding this year already. InsurTech100 company Humn recently bagged an investment from Shell Ventures and previous backer Marbruck Investments.
ThingCo also closed a funding round earlier this month. The company bagged $4.2m to support the development of its telematics device which helps provide accurate driving scores to help consumers get cheaper insurance premiums.
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