Greek insurtech Hellas Direct secures €30M for climate insurance solutions.

March 4, 2024
1 min read

TLDR:

  • Hellas Direct secures €30 million investment for climate-focused insurance solutions
  • Funding led by London-based ETF Partners with participation from company’s founders and investors

Climate change is leading to an increase in natural disasters and extreme weather events, making it difficult for people living in high-risk areas to obtain insurance. Hellas Direct, an Athens-based insurance provider, is addressing this issue with innovative climate-focused insurance solutions. The company recently announced a €30 million investment led by ETF Partners to develop products that help customers adapt to the risks associated with climate change.

The funding injection will support the development of insurance products aimed at assisting customers in central and southern Europe in mitigating the effects of climate change. This includes products that encourage policyholders to enhance energy efficiency in their homes and transition to less polluting vehicles. The focus is on addressing growing seasonal threats such as wildfires and floods.

Hellas Direct recognizes the opportunity for growth and innovation in the central and southern European insurance market, where rising incomes and increasing asset values are driving the need for insurance against various risks. The company’s tech-driven approach and deep regional knowledge enable it to meet the unique needs of diverse markets effectively, setting new benchmarks for industry excellence.

ETF Partners, the lead investor in the funding round, expressed confidence in Hellas Direct’s commitment to sustainability and innovation. The partnership aims to accelerate the integration of sustainability and resilience into insurance products, addressing the urgent challenges of climate change. With a focus on developing solutions that help people adapt to climate change, Hellas Direct is poised to drive sustainable innovation in the insurance industry.

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