Ottonova raises €10 million to bring digital insurance to Generation Y

Munich-based insurtech startup Ottonova has raised €10 million from Debeka, Germany's largest private health insurance provider. In return Debeka is receiving slightly more than 10 percent of the shares in the startup. The capital comes just after the startup raised €15 million in March from several investors, including Vorwerk Ventures and Tengelmann Ventures.

Ottonova's vision is to provide purely digital, private health insurance for young high-income earners. With an app, customers can complete contracts with only a few clicks. The startup is basing its model on Oscar, an insurtech startup from New York City.

Read more: Gruenderszene (German)

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