Hedvig, the Stockholm-based digital insurer startup has raised €9.3 million in a Series A funding to bring their digital insurance service, with a radically different business model and people-first approach, to the masses. The round was led by San-Francisco based Obvious Ventures which was founded by Twitter co-founder Ev Williams, James Joaquin and Vishal Vasishth. They claim their investment philosophy helps fuel startups that combine profit and purpose. Obvious Ventures is an early investor in groundbreaking companies such as Beyond Meat, Magic Leap and Medium.
“Hedvig is harnessing its purpose, the power of AI, and its human-centered product to create a modern, full-stack insurance company. Their incredible team is delivering against the mission – to give people the world’s most incredible insurance experience – and we at Obvious are honored to help scale it further,” says Vishal Vasishth from Obvious Ventures.
Also investing in this round is D-Ax, the early-stage investment arm of the Axel Johnson Group, one of the oldest and largest trade and service companies in the Nordic region. With its companies serving more than 1.5 million people every day, Axel Johnson has one of the most extensive customer eco-systems on the Swedish market.