WeGroup is a technology company that helps insurance providers worldwide connect better with their growing group of digital customers. With the help of artificial intelligence, it helps insurance brokers, among others, to better assess the risks and needs of their clients and serve them more efficiently in the event of a claim. WeGroup's innovative technology has already been recognised internationally several times.
Financing mix
The Ghent startup is no stranger to this. Earlier this year it already turned heads by being the first Belgian insurtech to land a successful crowdfunding campaign in an initial phase of this round, led by BAN Vlaanderen and the imec.istart fund. The creative financing mix becomes even more remarkable on closing this round, as more than half of the funds raised consist of grants and credit, coming from, among others, the Flemish Agency for Innovation and Entrepreneurship (VLAIO), KBC Bank and the Participation Company Flanders (PMV). CFO and co-founder Remi Wildschut: "It is important for a company to keep a good balance between debt and equity financing, which we managed to achieve with our seed round. These resources give us the oxygen to carry out the transformation from startup to scale-up."
Lightning-fast growth
Since its founding in September 2017, WeGroup has seen constant growth. It currently employs around twenty-five people and its technology is used in several European countries. Earlier this year WeGroup opened an office in Warsaw, Poland, where it found a home on Google's startup campus. "With the fresh resources we want to continue our European expansion, without losing momentum in our Belgian home market," says CEO Arvid De Coster. Thanks to this strategy, WeGroup positions itself very attractively to future investors and partners, which it will need for the next investment round.
