The Briefing: SoFi Starts Trading, Wefox Lands $650M, Bought By Many Secures $350M, And More
Summary
In a Tuesday blog post, investor DCM Ventures wrote that it watched SoFi go from refinancing student loans to becoming a “one-stop shop for financial independence. Lastly, they have also become the leading millennial focused brand for financial services and successfully made a once ‘boring’ topic cool.” Berlin-based Wefox, a provider of an app-based digital insurance platform, raised $650 million in a Series C funding round led by Target Global. The company offers tools for agents to streamline and automate their processes for quoting and selling insurance policies for categories such as homeowners, automotive and other areas. The company developed the Titan SGS medical device for sleeve gastrectomy, a bariatric surgical procedure for obesity disease. The company developed StimSite, a U.S. Food and Drug Administration-cleared muscle stimulation device that assists surgeon’s existing laparoscopic and robotic instruments to rapidly and safely identify and locate the ureter during pelvic operations.