ottonova defies difficult market conditions, raising EUR 34 million

News, Portfolio

2nd September 2022

ottonova, the first digital private health insurance company in Germany, has convinced further investors of its business model in a challenging capital market environment and is entering the next phase with an equity increase of EUR 34 million.

In addition to the renewed commitment of existing investors such as HV Capital, Earlybird, and ourselves at btov, Cadence Growth Capital (CGC), which specializes in investments in technology companies with strong organic and inorganic growth prospects, led the round and becomes an important part of ottonova’s investor base. 

 ““We are looking forward to this next stage in ottonova’s development with the two new and existing investors at our side,” says Dr Roman Rittweger, founder and CEO of ottonova, adding: “Operationally, ottonova has never been in such a good position as it is now.” Leonard Clemens, Managing Partner and co-founder of CGC confirms: “As an investor, we look for the best and most sustainable concepts. This year, the insurtech and fintech industry is experiencing how important the resilience of its own business model and platform is, and how crucial relevance in the market is now and in the future. This is exactly what ottonova, Roman Rittweger and his team have convinced us of.”

Read more about the news in the German business daily Handelsblatt.
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