ELEMENT, the Berlin-based white-label provider of digital insurance solutions, has raised €16 million (US$19.5 million), in additional investment from existing and new investors.
The additional capital will be used to continue the company’s growth.
With the latest funding round, total investment in the insurtech ELEMENT comes to €66 million ($80.3 million), only four years after its inception.
New investors are the investment firm Witan Group and Luxembourg-based fintech investor Ilavska Vuillermoz Capital – both investing in ELEMENT for the first time. Existing investors that participated in the financing round include finleap, signals VC, Versorgungswerk der Zahnärztekammer Berlin, and the European