Global Brain extends series-A for Element Insurance

Ecosystem Finleap, Versorgungswerk Zahnaerztekammer Berlin and SBI Investment also participated.

Global Brain is currently investing from its SFV GB Fund, a joint venture between Sony Financial Ventures and Global Brain. The fund was set up in October 2018, and has ¥5bn (€39m) in capital to deploy. It invests globally in fintech startups that can potentially collaborate with Sony Financial Group.

Previous funding
In November 2018, Element Insurance raised €23m in a series-A from SBI Investment, SBI Insurance Group, Engel & Völkers Capital and Alma Mundi Ventures. In January 2019, the company received an additional €5m investment in second closing from Mitsui Sumitomo Insurance Group and MS&AD.

To date, the company has raised €50m.

Company
Founded in 2017 and headquartered in Berlin, Element Insurance is a digitalised white-label insurance product developer. Element had a gross written premium of €4.3m in 2019, according to its statement.

People
Element Insurance – Christian Macht (CEO).

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