Clark, an insurance technology start-up in Frankfurt, won 69 million euros (about 85 million US dollars) in a new round of financing, led by Tencent. Clark provides digital insurance management options, allowing users to view their insurance options in "one place" and help determine better quotes through its platform. The company says it has 300000 customers in Germany and Austria and aims to reach 1m in the next three years.
Clark, founded in 2015, is one of many insurance technology subverters in Germany, which are competing to digitize German paper-based insurance policy products.
Clark's just completed round C financing is led by Tencent, and current investors such as portag3 ventures, white star capital and yabeo have participated in the investment.
"Tencent is one of our most successful investors and gives us an opportunity to gain insight into the technology landscape of the Chinese market," Oster said Oster also said he would use the money to strengthen products and services.