Clark, a Frankfurt, Germany-based digital insurance manager, raised €69m in Series C funding.
The round was led by Tencent with participation from existing investors Portag3 Ventures, White Star Capital and Yabeo.
The company intends to use the funds to accelerate its growth through further investments in its product and user acquisition.
Founded in June 2015 by Dr. Christopher Oster, Steffen Glomb, Dr. Marco Adelt and Chris Lodde, Clark is an insurance manager that offers its customers a digital way to improve their policies. After a quick registration process, customers can view the status of their insurance situation in the app (iOS and Android) and on the website. Algorithm-based, The system provides an analysis of all the customer’s rates. Clark searches the entire market’s offerings to identify the best rates. The company is present in Germany and Austria (led by Dr. Philip Steiner from Salzburg), has a staff of more than 270 and has a customer base of over 300,000 individuals,