wefox, one of the world’s leading insurtechs, and GATE (Green & Advanced Transport Ecosystem), have formed a new partnership that uses digital solutions and a pay-per-use formula for the long-term rental of electric commercial vehicles, founded by Iveco Group.
The multi-year deal will support GATE in revolutionising electric commercial transport through a pay-per-use formula, innovative and long-term rental. GATE is a pioneering digital service that unlocks the future of the mobility business. This first phase will see GATE supply an all-inclusive offer, devised in three flexible packages, providing clients a world of benefits in each kilometre. The solution includes 100% green vehicles, a digital ecosystem of services, maintenance & repair, telematics, recharging and insurance.
Julian Teicke, CEO at wefox said: “Our new deal with GATE from IVECO is another endorsement of our strategy to strengthen our distribution capabilities via our global Affinity business. We are now delivering on our plans to build a tech platform that enables more companies to benefit from insurance products. Our partnership with GATE is exactly that in action.”
Customized insurance products are embedded in GATE’s rental offer for electric commercial vehicles. Working to the company's specific needs, wefox identified the best products and supported GATE, enabling an all-inclusive formula. wefox will also manage the insurance chain from beginning to end via the organisation's third tech hub in Milan. The entire operation is digital, according to today’s needs and GATE’s fully digital ecosystem.
Simone Olivati, President, Financial Services, Iveco Group, and Head of GATE: “GATE is an exciting new opportunity for the world of goods transport and bringing a fully electric rental service to market, complete with insurance in play, allows our new business to exceed the needs and expectations of our customers. wefox is a natural choice for us. They believe in teamwork, collaboration and aren’t afraid of pushing boundaries. The combination of the wefox business model, knowledge, newly developed international scale and their technology platform was a perfect fit.”
About wefox
[GER]
wefox. Empowering Insurance.
wefox wurde 2015 von Julian Teicke, Fabian Wesemann und Dario Fazlic gegründet. Das Ziel des InsurTechs: Empowering Insurance - die Versicherungsindustrie vollständig zu digitalisieren und so alle Akteure auf einfachem Wege zusammenzubringen.
Im März 2024 wurde Mark Hartigan zum CEO der wefox Gruppe ernannt, um das Unternehmen in die nächste Wachstumsphase zu führen. Seit der Gründung 2015 hat das Unternehmen seinen Umsatz jährlich gesteigert und 800 Mio. USD im Jahr 2023 erzielt. wefox hat aktuell knapp 3 Mio. Kunden in seinen Märkten Deutschland, Österreich, Italien, Polen, den Niederlanden und der Schweiz.
Im Mai 2023 erweiterte wefox seine Series-D-Finanzierung um 55 Mio. USD und sicherte sich eine zusätzliche RCF in Höhe von 55 Mio. USD von J.P. Morgan und Barclays. Das Unternehmen ist mit 4,5 Mrd. USD bewertet.
[ENG]
wefox. Empowering Insurance.
wefox was founded in 2015 by Julian Teicke, Fabian Wesemann, and Dario Fazlic. wefox is an insurtech driven by a single purpose: Empowering Insurance - driving the digital transformation of the insurance industry and facilitating seamless collaboration among all stakeholders.
In March 2024, Mark Hartigan was appointed CEO of the wefox Group to lead the company into the next growth phase. Since its founding in 2015, the company has annually increased its revenue and achieved $800 million in 2023. wefox currently has nearly 3 million customers in its markets of Germany, Austria, Italy, Poland, the Netherlands, and Switzerland.
In May 2023, wefox expanded its Series D financing by $55 million and secured an additional RCF of $55 million from J.P. Morgan and Barclays. The company is valued at $4.5 billion
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