Know About €69M Series Funding That Clark Raised With the Help Of Tencent
Do you know that Tencent helped raise fresh capital for a German Insurtech, “Clark,” in one of its funding series? This is one of the most prominent news that every business person, investor, trader, and other interested individual would want to know.
Many of you may also be excited to explore such a hot topic, and that’s why the title of this article pushed you to click on the link and you landed here. So without wasting any time, let’s jump into the article and understand all about €69m series funding raised by Clark through Tencent in a comprehensive way.
€69M Series Funding Provided By Tencent to Clark
A Series C funding was conducted by the Chinese tech giant in which this German insurtech, “Clark” participated, and through the raised capital issued by Tencent, its existing investors increased tremendously, and all of them hailed from a high profile. They all were associated with highly profiled organizations, including White Star Capital, Portag3 Ventures, and Yabeo.
It was the Chinese tech giant Tencent that initiated the Series C funding, and herein, funding up to €69m was raised by insurtech. The firm earned a huge amount of return using such funding, and thereby, it also added some prominent investors to the list.
According to Alex Leung, the Assistant General Manager of Tencent, Clark, the tech-based company revolving around customer focussed business model, turned into an attractive investment model for investors and has become one of the topmost online insurance industries in Germany.
The regular customers taking the service of this online insurance management platform based in Frankfurt can also check their current insurance through an app or website or any medium they are comfortable with.
Furthermore, customers can earn more profits using better rates and alternate policies. If you are thinking about what can help them to improve their situation, then it is an algorithm-based scan of the current market.
How Has Clark Expanded In the Initial Phase?
All the founders, including Steffen Glomb, Christopher Oster, Chris Lodde, and Dr. Marco Adelt, discovered the company in 2015 in Germany to serve its market exceptionally. It succeeded in its plan as more than 3,00,000 customers availed of its service.
It is astonishing to know that another company, insurtech, was also expanding in the neighboring country Austria by 2020, and since it’s a matter of recent times, it has gained extreme popularity. Many of you may be aware of this emerging company. The two eminent individuals, Dr. Philip Steiner, and Adelt, manage this company.
According to the founders of Clark, the company aims to transfer its large accumulated funds to those organizations that are planning to expand themselves and take huge initiatives regarding the same. The founders of insurtech help such organizations and companies by investing heavily in their brand development, customer-building strategies, and overall business growth.
Dr. Christopher Oster, the CEO, and co-founder of Clark, also felt grateful when Tencent helped his company tremendously. With the aid of Tencent, his company grew faster and succeeded in becoming one of the leading digital insurance brokers in Europe. Without receiving such great help from Tencent, getting such huge success would not have been possible at all.
What Interrupted Tencent to Grow Internationally?
You will be shocked to know that the new developments in the USA also couldn’t compete with Tencent’s wonderful payment apps and online financial services across the USA. You can analyze how high the quality of Tencent’s services would be.
Although there were no obstacles in the investment opportunities of Tencent till 2021, and it even accelerated its growth infinitely using diversified business models, the company still witnessed a serious interruption by the government. And because of this interruption only, Tencent witnessed a decline in its growth.
It’s disappointing to know that Donald Trump signed an order that claimed Tencent to be a cyber threat to the privacy of the nation, and thus it passed an order to ban its two payment apps so that no transaction can be performed.
Is the Matter Solved Now?
In spite of the order passed by the former president, Donald Trump, the judiciary of the nation revoked that ban later on as soon as the new presidency came into effect with Trump leaving office. Therefore, without a single doubt, you can say that the matter is solved.
Conclusion
I hope that you got an insight into how wonderfully Tencent helped Clark raise €69m series funding that Clark has grown infinite since then. Today, you can see how prominent the name has become. I am sure that you got to learn something of value while exploring this huge headline.
