Homburger advised wefox in connection with a EUR 50 m revolving credit facility agreement and its USD 55 m Series D extension funding round
On May 17, 2023, the Berlin-based insurtech wefox announced that it has secured a EUR 50 m revolving credit facility arranged by J.P. Morgan Securities plc and Barclays Bank PLC, following a USD 55 m second close in its Series D that was completed earlier this year at a USD 4.5 bn valuation with investments from existing and new investors, including Squarepoint Capital.
The new funding is earmarked to further strengthen wefox’s insurance and distribution business, which includes the recent launch of a global affinity business, and developing the technology platform.
Homburger AG advised wefox Holding AG as transaction counsel in the Series D extension funding round and as Swiss counsel in connection with the UK law-governed EUR 50 m revolving credit facility agreement. The Homburger team comprised Andreas Müller, Stefan Blunschi, Oriana Schöni and Fabio Anceschi (all Corporate / M&A; Technology and Digital Economy), Jürg Frick and Nathalie Scherrer (both Financing and Investment Products), and Stefan Oesterhelt and Laetitia Fracheboud (both Tax).