One-year-old Frankfurt insurance startup Clark raises €13.2 million
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German insurance startup Clark just banked €13.2 million in its first major investment. Photo credit: Clark

German insurance startup Clark just banked €13.2 million in its first major investment. Photo credit: Clark

The German company shows off how much insurance tech is gaining traction in the venture world

Frankfurt and Berlin-based Clark.de scored a €13.2 million Series A, the company announced Tuesday morning. The round was led by Berlin fintech incubator FinLeap. The round included investments from Yabeo Capital, Kulczyk Investments, HitFox, TA Ventures, and the succulently named Tenderloin Ventures.

The service provides a digital overview of all your current policies and highlights noteworthy clauses in your policy agreements. They also operate a marketplace for insurance that assesses your needs and budget to make recommendations for plans you can purchase on the platform, something they have dubbed the “insurance­ robo-­advisor.” They went mobile in January 2016 and are available both on iOS and Android. They espouse to have experts on hand to answer questions about policies via the app.

Setup is interestingly simple, if not somewhat surprising. The company sets up a user account for you by first asking where you are insured, then identifies you by name with registered insurance plans those companies hold. They won’t go further though without formal, signed permission.

Screenshots explain Clark's account set up (English provided by automatic translation via Google Translate)

Screenshots explain Clark’s account set up (English provided by automatic translation via Google Translate)

They are incubated by FinLeap in Berlin, an outfit that raised €21 million at a €121 million valuation, it announced in June.

Clark was founded by CEO Dr. Christopher Oster, CTO Steffen Glomb and COO Dr. Marco Adelt in June 2015.

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