German digital insurer Wefox has secured $110 million in fresh funding from investors including JPMorgan and Barclays 

The investment demonstrates confidence in the insurance technology sector despite challenging macroeconomic conditions 

Wefox, based in Berlin, specializes in personal insurance products such as home insurance, motor insurance, and personal liability insurance 

Rather than handling claims itself, Wefox connects users with brokers and partner insurance firms through its online platform 

Established in 2015, Wefox faces competition from companies like Lemonade and GetSafe, as well as traditional insurance providers like Allianz 

The funding consists of a $55 million credit facility from JPMorgan and Barclays, as well as a $55 million equity investment led by Squarepoint Capital 

Wefox's CEO and co-founder, Julian Teicke, highlighted the unique nature of the financing 

The valuation of Wefox remains at $4.5 billion, maintaining its value from a previous funding round in July