Frankfurt/Main – Digital private health insurance company ottonova has raised EUR 34 million in growth capital in a series F funding. The round of financing was led by Cadence Growth Capital (CGC), the fastest growing growth PE fund in the German-speaking countries. With this round of financing, the company is now entering the next phase and, according to its own information, is completing the last financing step before break-even.
A CMS team led by Dr Florian Plagemann advised CGC on all aspects of the contract negotiations and legal due diligence. The growth private equity fund regularly relies on CMS’s expertise, e.g. with regard to its investments in everphone in 2021 and 2022.
CGC is a growth PE fund with a focus on the German speaking region and with more than EUR 200 million assets under management. It specialises in partnerships with high-calibre companies with strong organic and inorganic growth prospects. CGC invests capital of institutional investors as well as HNWIs from the M&A, PE, corporate and founder communities. In addition to everphone, CGC also holds a stake in several other technology-driven growth companies, such as Sherpany, tink, Mitos, Moonfare and everphone.
Munich-based ottonova is the private health insurance company for the mobile age. With innovative, digital services, the company has been helping its customers to get healthy and stay healthy since 2017. Digital technologies, instant personal advice via chat and numerous other digital features foster customer focus.
CMS Germany
Dr Tobias Schneider, Partner, Stuttgart
Dr Tobias Kilian, Principal Counsel, Frankfurt
Dr Florian Plagemann, Lead-Counsel, Frankfurt
Dominik von Zehmen, Counsel, Frankfurt
Dr Maximilian Eitelbuß, Associate, Frankfurt
Reiner Thieme, Associate, Frankfurt, all Corporate/M&A
Dr Winfried Schnepp, Partner, Cologne
Dr Eva Margareta Wolff, Counsel, Köln, both Banking, Finance & Insurance
Michael Kamps, Partner, Köln, TMC
Dr Roland Wiring, Partner, Hamburg
Dr Siham Hidar, Associate, Hamburg, both Intellectual Property
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