Zego

History

2021: Raising $150 million in investments, estimated at $1.1 billion

In mid-March 2021, the Zego smart insurance service raised $150 million and was estimated at $1.1 billion according to the results of the funding round. Investors were Yuri Milner's DST and Target Global, founded by Russians, as well as General Catalyst, Balderton Capital and Latitude funds.

According to the Zego website, the company uses advanced technologies and several data sources for smart insurance. In particular, Zego offers customers several protection options, up to flexible insurance with payment in fact. Since its launch in 2016, Zego has raised more than $200 million and achieved capital-efficient hyper-growth, despite difficult market conditions.

DST Global Fund Yuri Milner and Target Global invested in Zego smart insurance service

Zego intends to use investments to accelerate its growth, enter new markets and expand its contacts in Europe. The company will also continue to invest in new technologies and attract new employees, especially in the field of product promotion, engineering and data processing. The size of Zego is expected to double by the end of 2021.

We see this investment as another step on our path to expanding opportunities for the auto business around the world. In the five years since the founding of Zego, we have covered hundreds of thousands of enterprises throughout Europe, and this is just the beginning, "commented Sten Saar, CEO and co-founder of Zego. - The use of vehicles is changing and the traditional rigid insurance model is no longer appropriate. We founded Zego to offer a more efficient solution, and with the support of sponsors and the team, we will be able to offer it to customers worldwide.[1]

Notes