#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