Hellas Direct, the Athens-based insurtech firm, has secured a substantial €30 million investment aimed at bolstering its climate-focused insurance offerings.
The funding, spearheaded by London’s ETF Partners and supported by the company’s founders along with both new and existing investors, underscores Hellas Direct’s commitment to addressing the challenges posed by climate change in central and southern Europe.
With a clientele of over 900,000 customers and €155 million in underwritten premiums, Hellas Direct has emerged as a prominent player in the regional insurance landscape. The influx of capital marks a significant milestone for the company, enabling it to expand its innovative insurance products tailored to mitigate the heightened risks associated with climate change.
In response to the escalating frequency of natural disasters and extreme weather events, Hellas Direct aims to develop pioneering insurance solutions designed to assist individuals and businesses in at-risk areas. These solutions not only offer coverage against seasonal threats such as wildfires and floods but also incentivize policyholders to actively contribute to climate mitigation efforts.
Moreover, Hellas Direct recognizes the burgeoning potential for growth and innovation in the central and southern European insurance markets. With a focus on leveraging technology and deep regional expertise, the company aims to meet the evolving needs of its diverse customer base while setting new industry standards for excellence.
By concentrating its efforts exclusively on the region, Hellas Direct seeks to position itself as a key player in the ongoing dialogue surrounding climate resilience and insurance adaptation. The latest investment underscores the company’s commitment to driving positive change while offering valuable protection to communities vulnerable to the impacts of climate change.
Robert Genieser, Managing Partner at ETF Partners, commented on the raise, saying, “Hellas Direct embodies the innovation and commitment to sustainability that we look for in our investments. They have developed a deep understanding of the insurance industry and demonstrated impressive growth through the deployment of their advanced technology platform and appreciation for the local markets. Developing and deploying insurance products that help people adapt to the effects of climate change will be increasingly important going forward.”
Alexis Pantazis, Co-founder and Executive Director of Hellas Direct, said: “We are thrilled to partner with ETF Partners. Their support will be crucial in accelerating our mission to integrate sustainability and resilience into our insurance products. “
He added: “As we look to the future, we are more committed than ever to innovating and delivering solutions that address the growing risks and urgent challenges of climate change. Now is the time for action!”
