Berlin – Schnittker Möllmann Partners has advised Berlin-based insurance startup Coya on its $10 million financing round. Alongside US investor Valar Ventures further VC investors such as e.ventures and La Famiglia as well as a series of well-known business angels are funding the company.
Coya AG is a fully digital P&C insurer which is targeted at private customers. Aiming at becoming Europe’s leading digital non-life insurance, Coya employs about 20 people as of today. The insurtech company is currently in the process of obtaining a license from the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht / BaFin) to become a fully-licensed and regulated insurance company. The launch of Coya AG’s insurance business operations is scheduled for 2018.
Advisor of Coya AG:
Schnittker Möllmann Partners, Berlin: Dr. Stephan Bank (lead, transactions), Dr. Jonathan Wennekers (transactions).