#24 Fabian Wesemann, Co-Founder & Group CFO of WeFox | Making It Real Podcast with Jan Brinckmann

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