Chrysalis adds €3m to European insurer wefox amid insolvency risks

Part of a €20m fundraiser

Cristian Angeloni
clock • 1 min read

Chrysalis Investments has upped its holding in European insurtech company wefox with a €3m contribution, it said in a stock exchange notice today (17 May).

The insurer has raised around €20m in recent weeks to support its business strategy, after it warned investors it was at risk of insolvency. According to a report from Sky News, wefox could collapse as early as this summer, as it struggles with regulatory and financial challenges, and as a result is looking to offload a number of loss-making operations, particularly its Italian and German divisions. Exits and capital returns potential set to propel Chrysalis beyond continuation vote  Chrysalis' investment adviser has been "in discussions" with wefox management and other shareholder...

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