Clark 69m Series Tencent, In a Series C funding round led by Tencent, a Germany-based insurance company Clark has raised €69M to fund accelerate its product and user growth.
Key Takes:
- Clark, a digital insurance platform in Frankfurt, raised €69 million in a Series C round led by Tencent
- The funds will be used for product and user growth
- Clark serves customers in Germany and Austria and uses a customer-centric, tech-driven approach to recommend insurance plans
- To date, the company has raised over $137 million in funding with Tencent as a lead investor
Clark, a digital insurance platform based in Frankfurt, Germany, has raised €69 million in a Series C round led by the Chinese tech tycoon Tencent. Existing investors of Clark including Yabeo, Potage3 Venture, and White Star Capital also participated in the round. [Clark 69M Series Tencent]
Clark was founded by Dr. Marco Adelt, Steffen Glomb, Christopher Oster, and Chris Lodde. At first, Clark target the German insurtech market and served over 300,000 customers, but now, as the company keeps growing, the digital health insurance platform expanded its footprint to Austria, a neighbor to Germany.
Clark states that the company will use this funding to help accelerate its growth and create more and improved digital health products. “We are thrilled that Tencent will help us grow even faster to achieve our goal of becoming the largest insurance broker for consumers in Europe,” stated the CEO of Clark, Christopher Oster. [Clark 69M Series Tencent]
Alex Leung, Assistant General Manager at Tencent, thinks that Clark is the most decorated digital health product in Germany. What makes Clark unique from the competition is its customer-centric approach to doing business, which makes it “a clear market leader in the digital insurance industry in Germany,” as stated by Leung.
“Clark has proven its capability in using a tech-driven and customer-centric model and becomes a clear leader in the digital insurance industry in Germany. We are glad to invest in Clark, supporting the company to fuel its growth in the insurtech industry,” Leung added.
Whenever a user is added to Clark, its unique algorithm-based models search the entire insurance database and recommend the best insurance plans based on their preferences, medical history, and budget. It also compares different insurance providers and compares their rates for the customer as well. The app is available on Android and iOS devices. Clark is currently serving in Germany as Austria comprising 500-1000 employees.
To date, the company has raised over $137 million in funding, the latest being this Series C fund of EUR 69m led by Tencent. Clark is funded by 21 investors, and the lead investors are Target Global, Lexington Partners, White Star Capital, Portage Ventures, and Tencent. [Clark 69M Series Tencent]
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