Hellas Direct, an insurtech startup based in Athens, has raised €7 million in a Series B round led by the World Bank’s IFC with participation from Third Point, Endeavor Catalyst, Portag3 Ventures and investors Lord O'Neill and Jon Moulton.

Hellas Direct is an online insurance provider using AI to improve the entire process, with a particular focus on auto insurance.

It will be using the funds to reach new markets and possibly acquire other companies.

“We are excited to be teaming up with some of the world's leading investors, as we look to fortify our position in a fast-consolidating market, to accelerate our organic growth and to selectively look at strategic acquisitions in the broader region,” said Alexis Pantazis, cofounder and executive director.

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