Series‑B: Insurtech start-up Clark raises USD 29-million

26. April 2018

Berlin — As part of a second round of finan­cing, the start-up Clark ( USD 29 million. Two new share­hol­ders, the Cana­dian early stage inves­tor Portag3 Ventures and the VC fund White Star Capi­tal, joined as lead inves­tors. In addi­tion, exis­ting inves­tors such as Copa­rion, Kulc­zyk Invest­ments and Yabeo Capi­tal as well as fintech company buil­der FinLeap also parti­ci­pa­ted in the finan­cing round.

As a digi­tal insu­rance mana­ger, Clark offers custo­mers the hand­ling of the entire insu­rance busi­ness via an app and covers the offe­rings of 160 insu­r­ers for this purpose. Clark, which was foun­ded three years ago, wants to support custo­mers in mana­ging insu­rance contracts, iden­ti­fy­ing insu­rance gaps and closing them with corre­spon­din­gly favorable offers from coope­ra­ting insu­rance compa­nies. In addi­tion, the user can store his insu­rance data and manage and execute corre­spon­ding noti­fi­ca­ti­ons via the app in the event of a claim. — Clark curr­ently employs almost 20 people, the majo­rity of whom work in soft­ware development.

Dr. Chris­to­pher Oster, CEO (photo) has outstan­ding expe­ri­ence in foun­ding and leading high-growth compa­nies. Prior to foun­ding Clark, he accom­pa­nied Wimdu as Co-Foun­­der in the role of COO and was respon­si­ble for the opera­ti­ons and inter­na­tio­nal expan­sion of the offe­ring. Previously, Chris­to­pher spent seve­ral years with the Boston Consul­ting Group as a consul­tant to compa­nies in the finan­cial services industry.

Compa­nies like Clark, which not only have a scalable busi­ness, but are also open to coope­ra­tion in many direc­tions, seem to be inte­res­t­ing. In prin­ci­ple, every insu­rance company that has a func­tio­ning online busi­ness can bene­fit from the insurtech’s success.

Advi­sors: LUTZ | ABEL has alre­ady supported Clark in its Series A finan­cing round in 2016, in which the start-up was also able to raise a remar­kable sum of EUR 13.2 million. Consul­tant Clark:
Dr. Marco Eick­mann, LL.M. (Part­ner), Phil­ipp Hoene (Asso­ciate), Jan-Phil­lip Kunz, LL.M. (Asso­ciate)

With around 60 lawy­ers and offices in Munich, Hamburg, Stutt­gart and Brussels, the commer­cial law firm LUTZ | ABEL provi­des advice on all aspects of commer­cial law.

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