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KUFSTEIN, Austria - E-mobility service provider Greenstorm has filed for insolvency. With investor talks failing and the sales concept not covering costs, there will be no reorganization of the company due to a non-functioning business model. "A closure of the company will take place soon after the opening of insolvency proceedings," the insolvency consultant has declared.
German insurtech platform Hepster raises $10M Series A led by Element Ventures Hepster, an insurtech platform from Germany, has raised $10 million in a Series A funding round led by Element Ventures. Also participating was Seventure Partners, MBMV and GPS Ventures, as well as previous investors. The funds will be used to broaden the Hepster insurance ecosystem and scale up its network, with an emphasis on automation. The German insurance market is famously slow at adopting new practices, and Hepster is part of a new wave of insurtech startups in the country taking advantage of this. It allows...