Mubadala, an Emirati state-owned holding company, led a $400m Series D round in wefox, the Berlin-based insurtech, with participation from Eurazeo, LGT, Horizons Ventures, OMERS Ventures and Target Global. "This new valuation of $4.5bn is a clear validation of our business model, which focuses on indirect distribution via agents rather than direct. This makes our business one of the most credible insurtechs in the market right now," Julian Teicke, wefox CEO and Founder.