FRIDAY, a Berlin-based motor cover insurtech, has secured €$128m (114m) through a combination of equity and media-for-equity financing. The firm's platform offers kilometre-accurate billing, monthly terminability and paperless administration to the more than 45,000 customers acquired since 2017. The funding round included input from Seven Ventures and German Media Pool, while FRIDAY's majority shareholder and founder, Baloise Group, is investing a further €75m. The media-for-equity deals will enable FRIDAY to publicise its products using the ProSiebenSat.1 group and companies within the German Media Pool.
FRIDAY, a Berlin-based motor cover insurtech, has secured €114m ($128m) through a combination of equity and media-for-equity financing. The firm's platform offers kilometre-accurate billing, monthly terminability and paperless administration to the more than 45,000 customers acquired since 2017. The funding round included input from Seven Ventures and German Media Pool, while FRIDAY's majority shareholder and founder, Baloise Group, is investing a further €75m. The media-for-equity deals will enable FRIDAY to publicise its products using the ProSiebenSat.1 group and companies within the German Media Pool.