GP BULLHOUND ADVISED OTTONOVA ON EUR34M GROWTH INVESTMENT LED BY CADENCE GROWTH CAPITAL
Digitising the entire insurance value chain.
Berlin, 9 September 2022 - GP Bullhound acted as exclusive financial advisor to ottonova, Germany’s first full-stack digital health insurance, on its most recent €34m fundraise led by Cadence Growth Capital.

As one of the most promising insurtech companies, ottonova is becoming the leading European health insurance by radically reinventing the customer experience, products and processes. As the only insurance carrier with its own license valid across the EU, ottonova digitises the entire insurance value chain based on a synchronised technology platform. The company has already attracted a wide range of customers to its platform and established advantageous partnerships with key players in the insurance space.

The additional funding comprised of primary capital from Cadence Growth Capital and a German-based family office, as well as existing shareholders, such as Earlybird, HV Capital and Vorwerk Ventures. It will be used to accelerate the company’s growth trajectory, further launch additional insurance products, and to make the business processes even more efficient.

Roman Rittweger, Founder and CEO of ottonova, stated: “We are looking forward to this next stage in the ottonova story with the two new and existing investors at our side. Cadence Growth Capital invests in profitable growth companies. This fits the times: more moderate growth, with a very strong focus on efficiency. It was a pleasure working with the GP Bullhound team – their support proved to be extremely valuable.”

Julian Riedlbauer, Partner at GP Bullhound, commented: “Just over a year ago, GP Bullhound had already advised ottonova on its previous round led by Earlybird. Since then, the financing environment for startups has changed tremendously. In this respect, the new round represents a great success for ottonova.”

The transaction is further testament to GP Bullhound’s track record in growth stage private placements, following recent completed transactions, including the investment in Echobot by Great Hill Partners, the investment in Ecovadis by Astorg and General Atlantic, and the investment in Weglot by Partech.

Enquiries
For enquiries, please contact:
Julian Riedlbauer, Partner, at [email protected]
Carolin Drewes, Vice President, at [email protected]

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.

Sector
Fintech
Region
Germany/DACH