– SWITZERLAND, Zurich – Knip, a mobile–first digital insurance broker, secured 15 million swiss francs (15.7 million USD) in a Series B round led by US-based Route 66 Ventures, a leading global fintech investment firm. Pan-European Creathor Venture and US-based QED Investors join/co-lead the round, along with existing investors Netherlands-based Orange Growth Capital and Switzerland-based Redalpine Capital.
“After successfully establishing Knip in Switzerland, we entered the German market this summer, where we were able to boost strong growth and quickly become market leaders. Route 66 Ventures and Creathor Venture fully share our vision of making life for our users more convenient and insurance products more transparent and approachable. With the support of our strong and highly complementary investor syndicate, we will expand the technology of the app, further optimize processes and continue to improve interaction with the customer”, explains Dennis Just, founder and CEO of Knip, happy about this next milestone in building Knip to become the globally leading digital insurance manager.
Pascal Bouvier, General Partner at Route 66 Ventures, will, in the context of the financing round, join and thus further strengthen the Knip Board of Directors. “Knip has recognized the trend towards the digitalization of the insurance industry and closes a gap for the users. As investors, we aim at actively supporting the development of Knip by contributing not only the funding but also our expertise and experience,” he says about the investment in the startup.
To date, the Knip app has been downloaded by over 330,000 users and currently ranks as a top-5 free finance app for both iOS and Android in Germany and Switzerland. Knip now manages over 28 million USD in policy volume.
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