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Entertainment Much Ado About Nothing? What is behind the allegations against Getsafe

14:35  24 october  2020
14:35  24 october  2020 Source:   t3n.de

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Much Ado About Nothing is a comedy by William Shakespeare thought to have been written in 1598 and 1599. The play was included in the First Folio, published in 1623.

Much Ado About Nothing is a play by William Shakespeare first performed in 1612. Summary. See a complete list of the characters in Much Ado About Nothing and in-depth analyses of Beatrice, Benedick, and Don Pedro, Prince of Aragon.

Bulky numbers, empty buzzwords: At the beginning of the week, Insurtech Getsafe had to put up with tough allegations. What is behind the allegations against the online insurer?

Getsafe-Gründer Christian Wiens äußert sich zu den Vorwürfen gegen sein Unternehmen. © Getsafe Getsafe founder Christian Wiens comments on the allegations against his company.

The Heidelberg-based Insurtech startup Getsafe is about to close an large financing round . The largest ever in the Insturtech sector in Germany. However, there should be some inconsistencies with regard to the figures communicated so far and the technology of the app insurer. At least Finance Forward made these accusations earlier this week. What is behind the allegations that Getsafe inflates itself excessively? In an interview with t3n, Christian Wiens, the founder and CEO of Getsafe, took a position.

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Here is a brief Much Ado About Nothing summary: In Messina, as Don Pedro, the Prince of Arragon, and his officers return from a recently And that ’s a quick Much Ado About Nothing summary. What are your thoughts – anything unclear, or missing? Please let us know in the comments section below.

Much Ado About Nothing is one of Shakespeare's most frequently performed comedies. Probably written in the latter part of 1598, it was performed soon afterward by the Lord Chamberlain's Men, the theatrical company in which William Shakespeare had a business interest separate from his duties as

Getsafe is more successful than ever, right?

Christian Wiens founded the Insurtech Getsafe seven years ago. There have been quite a few pivots in the startup's history. It once started with a pure online brokerage business, now Getsafe sells its own insurance policies. In May, in the middle of the corona pandemic, the startup extensively revised its brand identity. According to the founder, things should have gone better than ever during the corona crisis. “March was the most successful month in Getsafe’s history with more than 10,000 policies sold!” He proudly writes on LinkedIn.

Nevertheless, according to Finance Forward, there should be more appearance than reality behind all this success. Getsafe had communicated a financing round larger than it actually was. Specifically, it is primarily about the Series A from Getsafe, which was announced in 2019. Getsafe itself spoke of 15 million euros fresh capital, Sven Schmidt spoke in the podcast of German Startups of only 7 million. Finance Forward itself put a sum of 8.5 million euros in the room. When it comes to technology, Getsafe is said to have given up on communication a bit. Getsafe's algorithms are not supposed to be as intelligent as they claim. At least that is the allegation of anonymous investors that Finance Forward relies on.

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Terming IndiGo Co-Founder Rakesh Gangwal's allegations of lack of corporate governance as ' much ado about nothing ,' Rahul Bhatia's InterGlobe Bhatia's IGE though had contested the allegation and said the transactions are a fraction of the airline's revenue. Calling Gangwal's allegations 'facts

Since, however, this is the second Much Ado in five days, comparisons are inevitable. Tate gives an excellent account of Beatrice as the kind of larky, high-spirited woman who uses her wisecracking gifts as a defence against emotional engagement: significantly, while Benedick turns up at Leonato's party

But what is it?

“At Getsafe we ​​have a clear mantra,” says founder of Vienna. "Nothing untrue is ever communicated to the outside world." He doesn't know where Finance Forward's speculations come from, says Wiens. The allegations that Getsafe announced its 15 million Series A too big are not true. Early Bird joined Getsafe in 2019 as a lead investor, and the existing investors have also increased their stake. That alone did not actually make up the entire 15 million euros in the financing round, as Vienna admits, but nevertheless a total of 15 million euros of fresh capital flowed into the company. This sum includes proceeds from an software sale to Verivox 2018 .

“I accept the criticism.”

But why did Getsafe pool these sums when the proceeds from the sale to Verivox were de facto not part of the Series A? “For us, that's fresh cash that comes in. We completely reinvested that in the company. ”In addition, the sale to Verivox and Prosiebensat1 was not allowed to be published as a single report and the amount of the proceeds could not be officially communicated to the outside world. In order to publicly celebrate the success of the fresh money for Getsafe through the sale, the decision has just been made to pool the proceeds with the Series A. The majority of the 15 million came from investors. “Maybe we could have made that a little more transparent. I accept the criticism, but I find it completely justified as an approach, ”admits Wiens.

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Much Ado About Nothing was first published in a quarto edition in 1600 by printer Valentine Although Don John has far fewer lines than other characters, it is his desire for revenge against his The climax of Much Ado About Nothing occurs, according to the first definition, when Claudio rejects

I find here that Don Peter hath bestowed much honour on a young Florentine called Claudio. Much deserved on his part and equally remembered by Don Pedro: he hath borne himself beyond the promise of his age, doing, in the figure of a lamb, the feats of a lion: he hath indeed better bettered expectation

Just buzzwords and nothing else?

In fact, Finance Forward's criticism that Vienna primarily wants to sell its company well to the outside world is not entirely unjustified. However, this should not surprise anyone in the startup world. Vienna is certainly not alone in this sector. In addition to the allegations of glossed over numbers, there is also speculation that Insurtech would unnecessarily puff up its technology. Getsafe itself speaks of an "AI-supported infrastructure". Industry magazine Finance Forward sees it differently. "Investors who recently took a detailed look at the company came to a different conclusion: There is not a lot of technology available yet," they write in their article .

At the request of t3n, Getsafe CEO Vienna also classifies these allegations. “The more data sets we process, the more intelligent our technology becomes.” It is ultimately logical that the algorithms for 5,000 insurance policies sold were not as developed as they are currently for more than 160,000. In his statement, Wiens actually indicates a different background to the criticism by the anonymous investors: It is more about offended egos. Interest in Getsafe would grow and some investors should have been turned down.

Criticism is definitely something positive

All in all, Vienna seems to see the rumors about his company more positively than to be concerned about them. Finally, if there are rumors, it shows that you are relevant. Nevertheless, Wiens does not want to get too involved in speculation. “Customers and their satisfaction are important to us. Everything else is talk and speculation in the startup world. ”

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