MCI.EuroVentures buys Hungarian insurtech market leader Netrisk.hu
MCI.EuroVentures buys Hungarian insurtech market leader Netrisk.hu

MCI.EuroVentures buys Hungarian insurtech market leader Netrisk.hu

MCI Group is strengthening its position as a leading technology fund in the CEE region. Through an investment made by the buyout fund MCI.EuroVentures the Group enters Hungary, increasing the scope of investment activities in another country in Central and Eastern Europe.

The latest investment of the fund is Netrisk - a leading online channel insurance broker in Hungary. The Hungarian non-life insurance market is valued at around EUR 1.5 billion, The Hungarian non-life insurance market is worth about 1,5 bln euro, from which online covers 20%. Netrisk has 30% of this sectors shares. The company is already recognizable in Hungary as a brand with a loyal customer base.

Netrisk is the 7th company from the fintech / insurtech segment in the MCI Group portfolio and the second online broker of insurance products. The latest investment is a confirmation of the strategy of MCI.EuroVentures, which wants to purchase control packages in mature companies related to the digital economy, with EBITDA of EUR 2-25 million. Geographically it intends to concentrate on the region of Central and Eastern Europe.
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