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29 January 2019
press release

Austria: Schoenherr advises bsurance on its Series-A financing

Schoenherr has advised Austrian insurtech start-up bsurance on its Series-A financing round. The investment totals EUR 4 million and was provided by UNIQA Ventures GmbH and an additional investor.

The financing round comprised of the issuance of new shares, the conversion of a convertible loan into equity (in case of UNIQA Ventures GmbH) and a secondary share purchase from an existing shareholder.

"We are glad that we were able to support bsurance in securing a considerable financing amount from two reputable investors at such early stage of the company," explained Schoenherr partner Thomas Kulnigg who heads the firm's start-up and venture capital service. Kulnigg added: "By assisting bsurance throughout this Series-A financing we add another start-up transaction to our strong track record."

Founded in November 2017, bsurance specialises in B2B2C business models in the insurance sector. The start-up focuses on the implementation of tailor-made insurance products directly into the sales channels of companies with a large client base or transactions. The Digital Insurance Agenda (DIA) industry conference has recently ranked bsurance among the top 100 most promising insurtech start-ups in Europe.

The already existing strategic partnerships with UNIQA Insurance Group AG and Munich Re demonstrate bsurance's promising position in the insurance landscape. The Series-A financing will allow the company to advance its expansion in Europe.

The Schoenherr team advising on this transaction consisted of Thomas Kulnigg (partner, corporate/m&a), Clemens Gaugusch (associate, corporate/m&a), Sascha Smets (associate, corporate/m&a) and Maximilian Nutz (associate, corporate/m&a).



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