Hellas Direct raises €30 million

Greek insurer Hellas Direct has announced a €30 million investment led by ETF Partners, with participation from the company’s founders and new and existing investors.

Founded in 2011, Hellas Direct ended 2023 with €155 million in written premiums and over 900k customers in Greece, Cyprus and Romania.

The new capital will “fortify” Hellas Direct’s growth trajectory, bolster its solvency capital, and facilitate expansion into both existing and new markets across central and southern Europe.

“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!” – Alexis Pantazis, Co-founder and Executive Director of Hellas Direct.

“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.” – Robert Genieser, Managing Partner at ETF Partners.