Wefox Sees Valuation Jump 50% to $4.5 Billion in Funding Round

Wefox, an insurance-technology firm founded by former Groupon Inc. and Deutsche Bank AG staff, raised $400 million in a funding round that values the company at $4.5 billion.

That’s a 50% boost from a previous round a year ago when it was valued at $3 billion, the company said in a statement on Tuesday. Mubadala Investment Co., the Abu Dhabi-based sovereign wealth fund, led the round.