VC firms invest $30m in Coya

Angel investors Mato Peric, Rolf Schrömigens, Elvir Omerbegovic, Marco Knauf, Sebastian Diemer and Alexander Grabner-Müller also invested in the round.

The fresh capital will be used to establish the company in Germany once it receives approval from BaFin to become a fully licensed and regulated insurance carrier, which it is thought to be close to receiving.

The company will initially offer tenant insurance before branching out into other areas.

Previous funding
EVentures, Valar and La Famiglia took part in a $10m seed round for Coya in August 2017.

The company claimed that with a volume of €10m it had raised one of Germany's largest ever seed rounds. This claim is supported by Unquote Data, which shows only two larger: a €12.78m round for Revotar Biopharmaceuticals in 2000 and a €12.1m round for Solarisbank in 2016.

Company
Founded by Andrew Shaw, Peter Hagen and Sebastian Villarroel, Coya is a digital insurance company based in Berlin. It plans to launch its products in 2018 after BaFin approval has been obtained. The company employs 55 people.

People
Valar Ventures – James Fitzgerald (partner).
EVentures – Christian Miele (partner).
Coya – Peter Hagen (founder).

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