Failed 2024
wefox
Europe's most-funded insurtech raised $1.6B at $4.5B valuation but couldn't achieve profitability. CEO accused of financial misrepresentation.
Founded → Closed
2015 → 2024
Funding Raised
$1.6B
Industry
InsurTech
Country
Germany
IdeaProof AI Failure Score
75/100
Market Fit Risk
50
Burn Rate Risk
85
Founder Risk
70
Full Analysis
wefox was a Berlin-based digital insurance platform that raised $1.6B, becoming Europe's most-funded insurtech. But growth masked fundamental problems: losses widened, the CEO was accused of misrepresenting financials to investors, and the company's own audit found €84M in uncollectable receivables. The CEO was ousted in 2024 and the company underwent dramatic restructuring.
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