German insurtech platform Hepster raises $10M Series A led by Element Ventures – TechCrunch
Summary
Hepster, an insurtech platform from Germany, has raised $10 million in a Series A funding round led by Element Ventures. The German insurance market is famously slow at adopting new practices, and Hepster is part of a new wave of insurtech startups in the country taking advantage of this. Its products are therefore better suited to the new sector of, for example, shared e-bike schemes and peer-to-peer rental platforms, which are rarely covered by traditional brokers in Germany. Our state-of-the-art technology with our API-driven ecosystem, as well as our highly service-oriented approach, sets us apart.” In an interview he told me: “Germany is the toughest market with the most regulations, the most laws. So there is huge market potential in Germany I think.” Michael McFadgen, partner at Element Ventures, said: “As new industries and business models emerge, companies need much more flexible insurance propositions than what is currently being offered by traditional brokers.