VC firms lead $29m series-B for Clark

Existing investors Coparion, Kulczyk Investments and Yabeo Capital also took part in the round, bringing the total raised since inception to $45m.

Finleap, a startup accelerator and support network for financial technology companies, remains the majority shareholder in Clark.

The company will use the fresh capital to expand the technology and marketing teams in both its Frankfurt and Berlin offices.

Clark stated it has recorded a tenfold increase in its contract volume since closing its series-A in 2016; it now manages contracts worth $310m.

Previous funding
Target Global led a seed funding round for Clark in October 2015. Finleap, ProSieben and business angels Karl-Heinz Flöther and Thomas North also took part.

A consortium of TA Ventures, Finleap, Yabeo, Kulczyk, HitFox, Tenderloin Ventures, SevenVentures and Axel Springer's corporate venturing division led a €13.2m series-A for the company in August 2016.

Company
Founded in June 2015 and based in Berlin, Clark advises customers on insurance policies using algorithms. Clients can also assess their insurance status through an app. The business claims it compares the tariffs of 160 insurance companies and has acquired almost 100,000 customers.

People
Portag3 Ventures – Adam Felesky (president).
White Star Capital – Eric Marineau-Fortin (managing partner).
Clark – Christopher Oster (founder, CEO).

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