Company Information

Get to know Friendsurance

Founded in Berlin in 2010, Friendsurance (Alecto GmbH) introduced the world's first peer-to-peer insurance concept. The model rewarded small groups of users with a cashback bonus at the end of each year they remained claims-free. Over the years, the company evolved, shifting its focus towards B2B solutions. Its consumer-facing insurance business in Germany has since been merged and rebranded under wefox. The underlying technology has been developed into a comprehensive digital bancassurance platform, now marketed as "wefox connect," enabling banks, insurance companies, and other partners to offer and manage insurance products digitally.

Industry

Financial InsurancePRIMARY
Financial Other Service

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Friendsurance

Germany

Founded in

2010 (16 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Others

--/10

Reviews

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.