Hellas Direct raises €30m in funding with ETF Companions

Insurance coverage firm Hellas Direct has raised €30m ($32.5m) in its newest funding spherical to assist proceed its development into 2024.

Following €155m in written premiums and a 900,000-strong buyer base in 2023, Hellas Direct is prepared for additional growth because of its new funding and buyers.

The funding will fortify Hellas Direct’s development, enhance its solvency capital, and assist growth in each present and new markets throughout central and southern Europe. It presently works throughout Greece, Cyprus and Romania.

As well as, the insurance coverage agency will use the funding to enhance buyer providers with an emphasis on mobility and residential ecosystems.

ETF Companions was a brand new investor on this funding spherical, becoming a member of Portage ventures, the European Funding Financial institution and plenty of extra.

Alexis Pantazis, co-founder and government director of Hellas Direct, stated: “We’re thrilled to accomplice with ETF Companions. Their assist will likely be essential in accelerating our mission to combine sustainability and resilience into our insurance coverage merchandise. As we glance to the long run , we’re extra dedicated than ever to innovating and delivering options that deal with the rising dangers and pressing challenges of local weather change. Now could be the time for motion!”

Emilios Markou, co-founder and government director of Hellas Direct, added: “We’re very blissful to announce the assist of ETF Companions in Hellas Direct. We think about it one other alternative to bolster our present actions and ship our subsequent steps in markets that are usually missed by international powerhouses. Our intention is to all the time innovate and use expertise as a aggressive edge for our clients’ and companions’ profit.”

Robert Genieser, managing accomplice at ETF Companions, commented: “Hellas Direct embodies the innovation and dedication to sustainability that we search for in our investments. They’ve developed a deep understanding of the insurance coverage trade and demonstrated spectacular development via the deployment of their superior expertise platform and appreciation for the native markets. Growing and deploying insurance coverage merchandise that assist individuals adapt to the results of local weather change will likely be more and more essential going ahead.”

Earlier in February 2024, Coverdash, an insurtech firm centered on SMEs, raised $13.5m in a Collection A funding spherical.

Nyca Companions led the spherical, which additionally noticed the participation of present buyers comparable to Bling Capital, AXIS Digital Ventures, Tokio Marine Future Fund, Growth VC and Cameron Ventures, amongst others. 

This funding will allow the corporate to boost its embedded accomplice community, widen its insurance coverage service panel and broaden its headcount. 

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