Ottonova is a German private health insurer that offers private health insurance alongside digital services, including personal consultations via chats. The company emphasizes digital-first customer service through chat-based and other digital offerings. In its latest fundraising it secured €34 million, contributing to its broader financing history. Founder and CEO Roman Rittweger has framed the company’s strategy around profitable, efficiency-focused growth rather than pure growth at all costs. Since its inception in 2016 Ottonova has raised a total of $174 million. The leadership emphasizes moderation and strong operational efficiency as core parts of its future approach. Ottonova is a Munich-based insurtech that aims to provide purely digital private health insurance targeted at young, high-income earners (Generation Y). Customers use an app to complete contracts with only a few clicks. The startup models its approach on Oscar, a New York City insurtech. Financially, Ottonova recently raised €10 million from Debeka, which received slightly more than 10% of the company's shares. This investment follows a €15 million raise in March from several investors, including Vorwerk Ventures and Tengelmann Ventures. The capital will support Ottonova's push to scale its digital offering to its target demographic. Ottonova is building a digital platform offering private health insurance products. It raised a new multi-million euro funding round of approximately €15m, bringing total capital raised to about €20m. Backers in the latest round included Tengelmann Ventures, B-to-V Partners and STS Ventures, joining earlier investors Holtzbrinck Ventures and Vorwerk Ventures. The company intends to use the funds to continue to develop and launch the platform. Ottonova aims to receive formal approval from the German Federal Financial Supervisory Authority (BaFin) within 2017. Co-founded by Dr. Med. Roman Rittweger, Sebastian Scheerer and Frank Birzle, the Munich-based insurer employs approximately 50 people and is continuing to hire across business areas.

Total raised

$61M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2022