In a nutshell:
- Hellas Direct, Greek insurance tech company, secured a €30M investment aiming to strengthen its climate-focused insurance offerings.
- The funding round was led by London’s ETF Partners and supported by the company’s founders along with both new and existing investors.
- The new investment will be utilized to address the challenges posed by climate change in Central and Southern Europe.
Their background story:
Hellas Direct, founded in 2011 by Alexis Pantazis and Emilios Markou, aims to develop insurance solutions designed to assist individuals and businesses in at-risk areas. These solutions offer coverage against seasonal threats such as wildfires and floods, and also incentivize policyholders to actively contribute to climate mitigation efforts.
According to the company’s data, they have more than 900K customers and €155 million in underwritten premiums.
Their next steps:
Hellas Direct aims to establish itself as a key player in the ongoing conversation about climate resilience and adapted insurance strategies. The company will focus on further developing its innovative products tailored to mitigate the heightened risks associated with climate change.
In their own words:
“Hellas Direct embodies the innovation and commitment to sustainability that we look for in our investments. They have developed a deep understanding of the insurance industry and demonstrated impressive growth through the deployment of their advanced technology platform and appreciation for the local markets. Developing and deploying insurance products that help people adapt to the effects of climate change will be increasingly important going forward,” said Robert Genieser, Managing Partner at ETF Partners.
“As we look to the future, we are more committed than ever to innovating and delivering solutions that address the growing risks and urgent challenges of climate change. Now is the time for action,” shared Alexis Pantazis, Co-founder and CEO.
