Hellas Direct is a Greek insurtech focused on climate-aware insurance solutions. The company deploys an advanced technology platform and leverages local market understanding to develop products that help people and communities adapt to climate change. Recent messaging from investors emphasizes Hellas Direct's combination of industry knowledge, technology, and sustainability focus. The new capital is intended to bolster the firm's mission to innovate and refine its product suite. Leadership engagement with investors suggests continued collaboration to scale climate-focused offerings. The company positions itself as part of a broader effort to overhaul insurance approaches in response to climate-related risks. Hellas Direct is a technology-driven, full-stack insurance company that uses advanced analytics to digitalize the insurance value chain. It sells multiple insurance products through multi-channel distribution and aims to replicate its Greece model across other markets. With investor support it plans geographic expansion into five 'blindspot' European markets, starting with Romania, and to offer its own credit product. The company intends to dominate the mobility ecosystem in the broader region and pursue an aggressive acquisition strategy. Hellas Direct reported a latest financing of EUR 32m, bringing total capital raised to date to EUR 56m; the EBRD is providing a EUR 10m mandatory convertible debt facility to support growth and solvency. Hellas Direct is a digital-first, full-stack online insurance company based in Nicosia, Cyprus, founded by Emilios Markou and Alexis Pantazis. The company leverages technology and artificial intelligence to deliver its insurance products. It recently launched a home-insurance offering in Cyprus in partnership with Swiss Re and Revolut. That launch introduced innovations such as the ability to buy insurance by the day, instant claims settlement, and payback of daily micro-payments to consumers who have not had a claim. Hellas Direct is backed by investors including Portag3, IFC, Endeavor Catalyst, Lord O’Neill and Jon Moulton. The article does not disclose operating metrics or the financial terms of the investment. Hellas Direct is an Athens-based digital-first, full-stack insurance company led by Emilios Markou and Alexis Pantazis. The company is empowered by technology and artificial intelligence and focuses on car insurance covers. It raised €7m in a Series B round. The round brings total equity raised to date to €23.8m. The Series B was led by IFC with participation from Third Point LLC, Endeavor Catalyst, former Goldman Sachs economist Lord O'Neill, private equity veteran Jon Moulton and Portag3 Ventures. Hellas Direct intends to use the funds to accelerate organic growth and to selectively pursue strategic acquisitions in the broader region.

Total raised

$79M

Funding rounds

5

Latest round

Equity

Latest activity

Feb 2024