Zurich-based Helvengo, which provides insurance solutions tailored to entrepreneurs, startups and SMEs, has received $4.5m in a seed financing round.
The round was led by TX Group, with partipation from Postfinance Ventures, Seed X, Hypoport, Anamcara Capital, Plug and Play, Conny&Co and various business angels.
After creating a risk analysis, Helvengo automatically compiles offers for professional liability, cyber and D&O insurance. Now also being offered is legal protection insurance, which was developed in cooperation with Coop Rechtsschutz AG.
Vedran Pranjic, co-founder of Helvengo, said, “We offer SME the opportunity to analyse and cover their risks in just a few minutes. With this approach, we are making the market for corporate insurance more digital, more transparent and more cost-effective. The new funding will help us further develop our products in Switzerland and expand into Germany.”
As lead investor of this financing round, TX Ventures said it impressed by Helvengo’s business model. Krzysztof Bialkowski, investment director at TX Ventures, said, “We are convinced that Helvengo has great potential to revolutionise SME insurance in Switzerland and abroad with its innovative business model, experienced team and ecosystem approach. Therefore, Helvengo is another important asset for our existing fintech portfolio, which we will continuously expand with CHF 20 million annually.”
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