Single Family Office from Hamburg Invests in Getsafe’s Series B

Hamburg Single Family Office invests in insurance startup

Abacon Capital is the single family office of Albert Büll. Albert Büll made his fortune with the B&L Group, a large real estate developer in Germany. The purpose of Abacon Capital is the management of wealth and investment in startups with venture capital. The company now has made another investment in a Series B round of a German insurance startup called Insurtech Getsafe. 

Insurtech Getsafe gets 55 million in Series B round. 

Insurtech Getsafe is an Insurance Startup from Heidelberg, Germany and their goal is to disrupt the insurance industry in Germany. They offer an app that allows the user to buy, manage, adapt, and cancel their insurance plans all-in-one app in just a few minutes. The company already offers a broad range of insurances like liability, contents, bike theft, car, and dental insurance among others. Insurtech Getsafe has now completed its Series B and received a total of 80 million euros from its investors. Abacon Capital is one of them. 

Investor capital clears the way for the next steps

The startup needs the raised money to invest in new licenses and to expand. The company currently works as an insurance underwriter but wants to take the next step and become a complete insurer. This would grant the company more flexibility and will allow the company to realise their innovations easier and faster. The company also wants to use the money to expand in other European markets like France, Italy and Spain. 

Source: private banking magazin, 28.10.21
Picture Source: Meduana

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