Insurtech Startup Wefox Seeks Funding at Over $5 Billion Value

Wefox, the German digital insurer, is in advanced discussions to raise fresh funding at a valuation of $5 billion to $6 billion, people with knowledge of the matter said.

The Berlin-based insurtech startup is aiming to raise several hundred million dollars, the people said, asking not to be identified because the information is private. Wefox may finalize terms of the fundraising as soon as the next few weeks, according to the people.