Success! You're on the list.

Success! You're on the list.

Greek insurtech Hellas Direct snaps €30M for climate-focused insurance solutions


It is hard to ignore the fact that we are seeing a steady increase in natural disasters and weather extremes due to climate change. For people who are affected by these events, not only must they deal with the subsequent emotional toll, but they must also start to rebuild their homes, lives, and businesses. Obtaining insurance to help with this, should the worst happen, is both difficult and expensive for those living in at-risk areas.

Athens-based Hellas Direct, the technology-enabled insurance provider, is one insurer trying to both help customers living in high-risk zones while at the same time being pro-active about climate change. Today, Hellas Direct has announced a €30 million investment led by London-based ETF Partners, with participation from the company’s founders and both new and existing investors. This funding injection positions Hellas Direct as a key player in central and southern European insurance markets, currently serving over 900,000 customers with €155 million in underwritten premiums.

Climate-adaptive insurance solutions

The latest funding round propels Hellas Direct into a pivotal phase, earmarked for the development of innovative insurance products aimed at assisting customers in central and southern Europe in adapting to the heightened risks associated with climate change. The focus is on addressing growing seasonal threats, including more severe wildfires or floods. Beyond risk coverage, Hellas Direct plans to introduce a range of pioneering products encouraging policyholders to actively contribute to mitigating climate change. This includes offerings that facilitate financing for homeowners to enhance energy efficiency and support for car owners transitioning to less polluting vehicles.

Strategic growth in Central and Southern Europe

Hellas Direct recognises the burgeoning opportunity for growth and innovation in the central and southern European insurance market. With rising incomes, increasing asset values, and a growing awareness of the need for insurance against various risks, the region presents a fertile ground for Hellas Direct’s customer-centric solutions. The company’s tech-driven approach, coupled with deep regional knowledge, positions it to meet the unique needs of diverse markets effectively. By concentrating exclusively on this region, Hellas Direct not only aims to expand its footprint but also seeks to set new benchmarks for industry excellence.

Endorsement from ETF Partners

Robert Genieser, Managing Partner at ETF Partners, expressed confidence in Hellas Direct, stating, ‘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.”

Vision for sustainable innovation

Alexis Pantazis, Co-founder and Executive Director of Hellas Direct, welcomed the partnership with ETF Partners, declaring, ‘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. 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!”

Related Posts

Get daily funding news briefings in the tech world delivered right to your inbox.

Enter Your Email
join our newsletter. thank you