Clark plans to accelerate its rapid growth through further investments in its product and user acquisition in order to advance its competitive edge.
Digital insurance platform Clark has raised a €69m Series C funding round led by Tencent, alongside existing investors including Portag3 Ventures, White Star Capital and Yabeo.
The new cash, Clark says, will be used to power the Frankfurt-based company’s growth plans through customer acquisition and product investments.
“We are thrilled that Tencent will help us grow even faster to achieve our goal of becoming the largest insurance broker for consumers in Europe”, said Christopher Oster, CEO & Co-Founder of Clark.
“Clark has proven its capability in using a tech-driven and customer-centric model and becomes a clear leader in the digital insurance industry in Germany. We are glad to invest in Clark, supporting the company to fuel its growth in the insurtech industry”, said Alex Leung, Assistant General Manager of Tencent.
Clark was founded in June 2015 by Oster as well as Steffen Glomb, Marco Adelt and Chris Lodde in Germany and has also been offering its service in Austria since 2020. In addition to Marco Adelt, the management in Austria is held by Philip Steiner from Salzburg.