ELEMENT Insurance Revenue, Valuation, Funding & Investors
ELEMENT Insurance is valued at $82M as of July 2022, a 6.8x multiple on its last reported $12M revenue.
Last ELEMENT Insurance valuation
$82M
Series B · Jul 2022
Last ELEMENT Insurance funding round
$54M
Series C · Mar 2024
ELEMENT Insurance revenue
$12M
Series B · Jul 2022
Key investors in ELEMENT Insurance
Alma Mundi Ventures
Versorgungswerk Zahnärztekammer Berlin
finleap
SBI Investment
Signals Venture Capital
Ilavska Vuillermoz Capital
About ELEMENT Insurance
ELEMENT Insurance is a Berlin-based InsurTech founded in 2017 that provides cloud-based, white-label insurance products for the B2B2X value chain. Holding a full EU license from BaFin as a non-life risk carrier, it handles product development, risk management, and claims settlement for more than 50 partners across insurance, telecom, and automotive sectors who market the products under their own brands. Its offerings include cloud-failure insurance, real estate purchase guarantees, parametric weather cover, and digital pet health insurance, and the company has served more than 200,000 customers.
Founded
2017
HQ
GermanyWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$12M (Jul 2022)
Valuation
$82M (Jul 2022)
ELEMENT Insurance Valuation
ELEMENT Insurance is currently valued at $82M, based on its Series B in July 2022.
The $22M round was led by Versorgungswerk Zahnärztekammer Berlin, with participation from Witan Investment, Alma Mundi Ventures and Ilavska Vuillermoz Capital.
ELEMENT Insurance valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2022 | Series B | $82M | 6.8x |
ELEMENT Insurance Revenue
ELEMENT Insurance's latest recorded revenue is $12M, as of its Series B in July 2022. At a $82M valuation, that implies a 6.8x revenue multiple.
ELEMENT Insurance revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2022 | $12M | $82M | 6.8x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
ELEMENT Insurance Funding History
ELEMENT Insurance has raised a total of $152M across 7 funding rounds.
ELEMENT Insurance's first fundraising round was a $12M Series A in May 2017. The most recent completed round was a $54M Series C in March 2024.
ELEMENT Insurance funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2024 | Series C | Versorgungswerk Zahnärztekammer Berlin; Alma Mundi Ventures | $54M | - | ELEMENT Insurance is a German InsurTech founded in 2017, specializing in cloud-based white-label insurance products for the B2B2X value chain. It holds a full EU license as a risk carrier for non-life insurance from BaFin, enabling it to provide digital insurance solutions including product development, risk management, and claims settlement across Europe. The company focuses on managing general agent (MGA) markets, offering fast, flexible, and compliant cross-border solutions via its proprietary tech platform. In March 2024, ELEMENT raised €50 million (approximately $54 million) in a funding round from Versorgungswerk der Zahnärztekammer Berlin K.d.ö.R. and Alma Mundi Ventures. This round supports expansion into EU markets, efficiency improvements, and profitability focus. Earlier, a Series B in 2022 raised €21.4 million led by VZB with Alma Mundi participation, bringing total funding to €88 million at that time. For 2023, ELEMENT reported 150% year-on-year growth to €50 million in gross written premiums (GWP), meeting cost targets and securing long-term solvency. It anticipates significant double-digit growth in 2024 with EU partner expansion. ELEMENT differentiates through low loss ratios, custom products like cloud failure insurance and real estate guarantees, and scalability. It has grown to 140 employees and 200,000 customers historically. |
| Jul 2022 | Series B | Versorgungswerk Zahnärztekammer Berlin (lead); Witan Investment; Alma Mundi Ventures; Ilavska Vuillermoz Capital | $22M | $82M | ELEMENT Insurance AG is a Berlin-based insurtech startup founded in 2017, specializing in digital insurance products such as cloud-failure insurance, real estate purchase guarantees, and comprehensive coverage, offered as a white-label provider to over 50 partners who market them under their own brands. The company serves over 200,000 customers and had raised a total of 88 million Euro in funding by mid-2022, with major early investors including Finleap (45.1% stake) and Signals Invest (18.5%). In July 2022, ELEMENT secured approximately 21.4 million Euro in a financing round led by Versorgungswerk Zahnärztekammer Berlin (VZB), with participation from Alma Mundi Ventures, Witan Group (or Witan Investment), and Ilavska Vuillermoz Capital; the funds were intended to expand market position in Germany and add new product categories. A closely related round in May 2022 saw VZB invest 15 million Euro, resulting in a post-money valuation of 71 million Euro and elevating VZB's stake to 22.6%, down nearly 50% from a 130 million Euro peak in May 2021. For the year prior to the 2022 rounds, ELEMENT generated gross premiums of 10.4 million Euro, with a 66% year-over-year revenue increase reported and a target of 100% growth for 2022, though it posted a net loss of 13.9 million Euro. By year-end 2022, the company employed 143 staff and incurred a 17.3 million Euro loss, contributing to cumulative losses of 69.2 million Euro since inception. VZB continued heavy investment in later rounds, reaching over 80% ownership by 2024/25 and investing up to 62 million Euro acquisition cost, but ELEMENT filed for insolvency amid ongoing losses (23.5 million Euro in 2023, cumulative 92.7 million Euro by then) and staff reductions to 125. The failure contributed significantly to VZB's financial distress, with write-offs of 45.98 million Euro in 2022 and 64.93 million Euro in 2023, and potential losses up to 100 million Euro on ELEMENT, amid broader risky investments leading to 1.1 billion Euro in total losses. |
| Jun 2021 | Undisclosed stage | Witan Investment; Versorgungswerk Zahnärztekammer Berlin; Alma Mundi Ventures; Ilavska Vuillermoz Capital; Signals Venture Capital; finleap | $19M | - | ELEMENT Insurance AG is a Berlin-based insurtech providing fully cloud-based white-label digital insurance solutions, holding a BaFin license as a direct insurer for non-life insurance across the EU. It offers property/casualty products including household, private liability, parametric weather insurance, digital dog health insurance, mobility solutions, and cyber protection, partnering with over 30 entities in insurance, telecom, and automotive sectors. In Q1 2021, it added 10 new partnerships. On June 7, 2021, ELEMENT raised €16 million (US$19.5 million) from new investors Witan Group, Ilavska Vuillermoz Capital, and existing investors finleap, signals VC, Versorgungswerk der Zahnärztekammer Berlin, and Mundi Ventures (listed as Alma Mundi Ventures), bringing total investment to €66 million ($80.3 million) since inception four years prior. The funds support continued growth and scaling of its B2B2X model in the property/casualty sector, following five strong sales months. ELEMENT focuses on embedded insurance, international expansion, new products like buyer protection with Sparkassen-Finanzgruppe and Apple Pay, parametric expansions, cyber solutions, and ESG initiatives. |
| Aug 2020 | Series A | Sony Financial Ventures (lead); Global Brain Corporation; Versorgungswerk Zahnärztekammer Berlin; SBI Investment; finleap | $12M | - | ELEMENT Insurance AG raised €39 million in a funding round closed on August 19, 2020, with participation from new investor SFV - GB L.P. (a fund managed by Global Brain Co., Ltd.), and returning investors Sony Financial Ventures Inc., FinLeap GmbH, SBI Investment Co., Ltd., and Versorgungswerk Zahnaerztekammer Berlin. The company also raised €16 million in a second tranche on the same date as part of this transaction. Prior to this, ELEMENT Insurance had raised a total of €50 million in funding. |
| Jan 2019 | Series A | Mitsui Sumitomo Insurance Company (lead); MS&AD Ventures (lead) | $6M | - | - |
| Nov 2018 | Series A | Alma Mundi Ventures; Engel & Völkers Capital AG; SBI Insurance Group Co; SBI Investment | $27M | - | - |
| May 2017 | Series A | finleap (lead); Signals Venture Capital; Early Impact Ventures | $12M | - | - |
Who has invested in ELEMENT Insurance?
14 investors have backed ELEMENT Insurance across its funding rounds, including Alma Mundi Ventures, Versorgungswerk Zahnärztekammer Berlin, finleap, SBI Investment, Signals Venture Capital and Ilavska Vuillermoz Capital.
Lead investors include Versorgungswerk Zahnärztekammer Berlin, Sony Financial Ventures, Mitsui Sumitomo Insurance Company, MS&AD Ventures and finleap.
ELEMENT Insurance Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Berlin | 4 | Lead | Aug 2020 | |
 Madrid | 4 | Participant | Nov 2018 | |
| Berlin | 3 | Lead | May 2017 | |
 London | 2 | Participant | Jun 2021 | |
 Luxembourg | 2 | Participant | Jun 2021 | |
 Tokyo | 2 | Participant | Nov 2018 | |
| Berlin | 2 | Participant | May 2017 | |
| Tokyo | 1 | Participant | Aug 2020 | |
| Tokyo | 1 | Lead | Aug 2020 | |
| Hamburg | 1 | Participant | Nov 2018 | |
 San Francisco, CA | 1 | Lead | Jan 2019 | |
| Tokyo | 1 | Participant | Nov 2018 | |
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Start Free TrialELEMENT Insurance Competitors
ELEMENT Insurance competitors include listed companies like Cheche Group, Aijinet, Health In Tech and Nord Insuretech Group, and private ones like Covr Financial Technologies and 1Token.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Hartford, CT | Private | - | - | $115M | - | |
 China | Publicly listed | $449M | ($2M) | $30M | 0.1x | |
 South Korea | Publicly listed | $28M | $3M | $21M | 1.4x | |
| United States | Publicly listed | $33M | $2M | $53M | 1.2x | |
 Sweden | Publicly listed | $436K | ($2M) | $21M | - | |
| United States | Private | - | - | $82M | - |
ELEMENT Insurance Public Comps
ELEMENT Insurance is still privately-owned, but its public comps include SelectQuote, Matica Fintec, RS2, Xp Industrial FII, Stakk, wrkr, Monvia, Veefin, AIX Inc. and Spectra Systems.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.6B | $138M | 0.5x | 0.5x | 5.5x | 7.1x | |||
| $48M | $4M | 2.7x | 2.8x | 33.6x | 28.8x | |||
| $46M | $5M | 2.0x | - | 19.5x | - | |||
| $9M | - | 10.0x | - | - | - | |||
| $884K | $0K | 86.8x | - | 243120.3x | - | |||
| $10M | ($6M) | 9.3x | 6.7x | (13.7x) | (31.3x) | |||
| - | - | - | - | - | - | |||
| $36M | $8M | 2.4x | - | 10.5x | - | |||
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Common questions about ELEMENT Insurance
| When was ELEMENT Insurance founded? | ELEMENT Insurance was founded in 2017. |
| Where is ELEMENT Insurance headquartered? | ELEMENT Insurance is headquartered in Germany. |
| Is ELEMENT Insurance publicly listed? | No, ELEMENT Insurance is a private, VC-backed company. |
| What is ELEMENT Insurance's valuation? | ELEMENT Insurance was last valued at $82M in its Series B in July 2022. |
| How much funding has ELEMENT Insurance raised? | ELEMENT Insurance has raised $152M across 7 funding rounds. |
| What was ELEMENT Insurance's last funding round? | ELEMENT Insurance's last funding round was a $54M Series C in March 2024. |
| Who are ELEMENT Insurance's investors? | ELEMENT Insurance's investors include Versorgungswerk Zahnärztekammer Berlin, Alma Mundi Ventures, finleap, Witan Investment, Ilavska Vuillermoz Capital, SBI Investment, Signals Venture Capital, Global Brain Corporation, Sony Financial Ventures, Engel & Völkers Capital AG and 4 others. |
| What is ELEMENT Insurance's revenue? | ELEMENT Insurance's latest recorded revenue is $12M (July 2022). |
| What is ELEMENT Insurance's revenue multiple? | ELEMENT Insurance's latest valuation implies a 6.8x revenue multiple ($82M valuation on $12M of revenue). |
| Which companies are comparable to ELEMENT Insurance? | Companies comparable to ELEMENT Insurance include Covr Financial Technologies, Cheche Group, Aijinet, Health In Tech, Nord Insuretech Group and 1Token. |
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