Hellas Direct, a technology-driven insurance company operating in Greece and Cyprus, has announced that it has raised a further EUR 32m in funding in its latest financing round, bringing the total raised to date to EUR 56m.
The company also welcomed on board an investor, the European Bank for Reconstruction and Development (EBRD). The EBRD is providing a mandatory convertible debt facility of EUR 10m to Hellas Direct, to support its growth and provide the company with solvency capital.
“We are proud to welcome the EBRD into our group of investors at Hellas Direct. Our investors’ support will enable us to accelerate some of our longer-term strategic goals and to pursue a more aggressive acquisition strategy in the region,” said Alexis Pantazis, Executive Director of Hellas Direct.
“We are excited to be teaming up with one of the world’s leading investors. This is a great opportunity for us to further optimize the service we offer to the consumer, by expanding our activity to multiple sectors. Our aspiration is to make Hellas Direct the dominant player in the wider region’s mobility ecosystem,” added Emilios Markou, Executive Director of Hellas Direct.
“We are delighted to support Hellas Direct, a technology-driven insurance company offering innovative products and digitalising the insurance value chain in Greece. Accelerating digital transition, unleashing the power of technology to bring changes for the better, is among the top priorities for the EBRD. We are very proud to support the growth of an insurance market player with a unique, digital business model well-positioned in the post-Covid-19 world in scaling up its operations. We are confident that EBRD funding, know-how and strong presence on the Greek market will help Hellas Direct to continue improving its cutting edge service offerings and increase its market share,” said Andreea Moraru, EBRD Head of Greece and Cyprus.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.