Debeka and VC firms in €20m round for Ottonova

Holtzbrinck Ventures, Vorwerk Direct Selling Ventures, Tengelmann Ventures and B-to-V Partners were part of a consortium of previous investors that invested pro rata to make up the other €10m.

The new money will be used to finance the projected losses for the company's first three years of operation. This was a mandatory condition of the financial regulator.

Previous funding
In December 2015, Holtzbrinck led a €5m seed round of funding for Ottonova, along with Vorwerk.

In March 2017, Tengelmann  B-to-V and STS Ventures led an additional €15m funding round.

Company
Founded in 2015 and headquartered in Munich, Ottonova is a health insurance software company. The team has backgrounds in both technology and medicine, including CEO and founder Roman Rittweger, who is a medical doctor. The company is aiming to create a digital platform that provides private health insurance products. It currently employs 55 staff.

People
Ottonova – Roman Rittweger (CEO).

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• Topics
• Early-stage
• DACH
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• Insurance