This time our special guest is Fabian Wesemann, Co-Founder and CFO of insurance unicorn WeFox. Wefox recently secured $650 million in capital, giving the firm a $3 billion valuation. Fabian shares with us how they closed their funding round and his take on building relationship with investors. He also gives us advice on finding tech engineers in the start and and making decisions in a team. And if you wondering how to enter and build trust in a regulated industry, this episode is also for you!
https://www.linkedin.com/in/janbrinckmann
https://www.linkedin.com/in/fabian-wesemann-6036a629
https://www.wefox.com
0:00 Introduction
1:18 They way investment banking helped Fabian to grow into the startup ecosystem
2:30 How Fabian & the team found the idea for WeFox
4:42 The first version of WeFox
6:20 Evolution of the business model and why the first idea never stays
11:25 How to build trust as an InsureTech
13:15 Convincing a strategic partners as a young startup
15:00 The first rounds of raising venture capital
17:03 Finding tech engineers as business people when founding a startup
19:20 How to build deep domain knowledge, in this case insurance
22:10 Advice on building an amazing team and how to make decisions in a team
25:48 Closing a VC round at a 3 billion valuation
29:50 Communicating effectively with investors: unit economics, data room, pitch deck, etc...
33:58 Building trustful relationships with investors over time
37:05 Quick fire round: trading live with someone for a day, most useful & so far not well known software tool, what should entrepreneurs fix immediately, personal highlight of the day
40:15 Closing
