Estonian Insurtech DriveX Raised more than 200.000€ from Customers and Investors
Summary
Additionally, former Prime Minister of Estonia Taavi Rõivas, Lemonade Stand, insurtech expert Risto Rossar and Silberauto participated in the round. According to DriveX founder and CEO Rauno Sigur, the investment is primarily used in product development, expanding the team and entering new markets. The company estimates that close to a billion motor insurance policies are sold and several hundred million accidents all over the world happen each year globally. Carglass Estonia representatives Rainer Virve and Sven Freiberg are certain that digitization in the insurance sector is in its full force: “We realized rather quickly that we want to offer an even faster and more convenient service to our customers. Estonia is known as a digital nation and surely we are a role model in the group in terms of what can be achieved with DriveX technology,” Freiberg added.