The Frankfurt Germany Based Clark 69m is a company that focuses on man-made consciousness. It offers phenomenal circulation channels and client care. It employs more than 200 people in three separate departments. The company is looking to build a global client base. It is backed by a number of investors, including Tencent. It has already signed up more than one million customers in Germany.
Company’s Product
Insurtech firm Clark, based in Frankfurt Germany Based Clark 69m, Germany, has raised EUR69 million in Series C funding from Tencent. The investment will be used to grow internationally and expand the company’s product offering. It is targeting to have one million customers by 2023. It currently has over four hundred thousand customers in Germany. With this latest round of funding, the company plans to hire more employees and expand its user acquisition efforts in the country.
Company’s Technology
The company’s technology has attracted investors including Tencent and Portag3 Ventures. The new funding will help the company expand its product and expand its user base in the German market. Tencent will also be involved in expanding the company’s international operations.
Portag3 Ventures invests in fintech startups globally. The company has investments in key markets in Europe, Asia-Pacific, and Canada. It invests in startups in areas including digital wealth management, personal finance, insurance, and small business finance. The firm’s founders are backed by several big names in the industry, including Peter Hancock, former CEO of AIG, and Gregory J. Fleming.
White Star Capital
A digital insurance manager from Frankfurt Germany Based Clark 69m, Germany, secured EUR69 million in Series C financing from Chinese internet giant Tencent. The investment will allow the company to expand its product line and client base. The company currently serves more than 450,000 customers in Germany and hopes to reach a million clients by 2023. The funds will be used to increase AI-based technology and user acquisition efforts in the German market.
Clark is a digital insurance manager founded in June 2015. The company offers affordable protection products and focuses on customer experience. The startup has raised funding from leading tech companies, including Tencent, and has built a solid user base. The new funding will allow the company to scale its product and expand internationally.
The firm has 30 employees and nine offices worldwide. The firm believes that the future of business is global. Its global platform allows it to offer direct investment through dedicated funds as well as co-investments in portfolio companies. Its third fund, WSC III, is set to continue the momentum started in the firm’s previous two funds. It has also been recognized with a CVCA 2021 VC Global Dealmaker Award.
Frankfurt City Council Embraces 100% Renewable Energy
In 2008, the Frankfurt city council adopted a plan to reduce energy consumption and promote energy efficiency to achieve 100% renewable energy use by 2050. The master plan proposes various measures in the areas of heating, lighting and electricity to achieve the ambitious goal. In addition, the plan calls for the adoption of new technologies and a circular economy.
The city council also plans to conduct a wider citizen consultation process. This is known as the Climate Alliance. By educating its citizens about the importance of climate protection, the city is seeking to reduce its impact on the environment. In addition, it has launched a calendar listing events related to climate protection.
The new levy will reduce the cost of energy for a three-person household by almost half, from six to three cents per kilowatt-hour (ct/kWh). The move is expected to save an average household of three-persons about 130 euros per year. However, high wholesale costs may consume some of the potential savings.
German Insurtech Startup
The 69m Series is a German insurtech startup with a strategic plan of action. The company aims to have one million customers by 2023. It has a team of 200 people and is currently headquartered in Frankfurt, Germany. The company already has over four hundred thousand customers, but is focused on building a global clientele. By that time, the company will be operating in 56 countries.
Final Words:
The company has raised Frankfurt Germany Based Clark 69m in Series C funding and has plans to expand its operations to other European markets. With the money, the company plans to add more protection products and services for its customers. The next step will be to expand its customer base. The company hopes to reach one million clients by 2023.
