# Hedvig

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hedvig-2

- Industry: Insurance
- Headquarters: Stockholm, Sweden
- Website: www.hedvig.com
- Total disclosed funding: $64M
- Latest round: Series B (Sep 29, 2021)
- Investors on record: 7

## About

Hedvig AB, based in Sweden, operates as an insurance company that provides innovative and flexible insurance solutions to meet the diverse needs of its customers.Hedvig AB is an insurance provider specializing in flexible insurance solutions without binding contracts. Founded in 2016 in Stockholm, Sweden, the company was established by Fredrik Fors, John Ardelius, and Lucas Carlsén. The company's strategic focus has remained consistent, and it serves the Swedish market. In its journey, Hedvig AB has successfully completed 6 deals as of January 11, 2022, raising a total of USD 45.00 mn in funding through a Series B round led by Anthemis Group, with participation from other investors like Cherry Ventures and CommerzVentures.Hedvig Försäkring AB offers a range of insurance products including vehicle, home, student, and pet insurance. These products are designed with flexibility in mind, allowing customers to secure insurance without long-term commitments. The service is facilitated through a dedicated app that streamlines the claims process for quick response to incidents, primarily targeting Swedish residents across various demographics, including students, homeowners, and pet owners.In the most recent financial year, 2023, Hedvig Försäkring AB reported a revenue of USD 4,728.60 mn. Operating on a direct-to-consumer model, the company's revenue is generated primarily through subscription-based insurance plans, enabling customers to pay premiums flexibly and access various tailored insurance packages at competitive prices.Hedvig AB plans to continue expanding its product offerings and enhance its technological capabilities. Following the recent funding round in January 2022, the company aims to invest in new product development and improve customer experience through innovative features in their app. Additionally, Hedvig is exploring opportunities to expand into new geographical markets, aiming to reach a broader audience by 2024. The recent funding will support these initiatives and bolster their operational capabilities.

## Funding rounds

- Series B, Sep 29, 2021, $45M — Commerzbank, Anthemis, Novax, Obvious, Cherry Ventures, Nineyards Equity
- Series A, Oct 14, 2020, $9.1M — Commerzbank, Novax, Obvious, Cherry Ventures
- Series A, Aug 27, 2019, $10M — Obvious, Cherry Ventures, D-Ax Corporate Venture Capital

## Investors

- Obvious (https://capitalatlas.ai/funds/obvious) — Series A, Series B
- Cherry Ventures (https://capitalatlas.ai/funds/cherry-ventures) — Series A, Series B
- D-Ax Corporate Venture Capital — Series A
- Commerzbank (https://capitalatlas.ai/funds/commerzbank) — Series A, Series B
- Novax (https://capitalatlas.ai/funds/novax) — Series A, Series B
- Anthemis (https://capitalatlas.ai/funds/anthemis) — Series B
- Nineyards Equity (https://capitalatlas.ai/funds/nineyards-equity) — Series B