Mobile-based insurance platform Lovys has reportedly collected €17m in its Series A funding round, which will help it to expand internationally.
The investment capital was supplied by Heartcore, NewAlpha, Raise Ventures and existing backers Maif Avenir, Portugal Ventures and Bpifrance, according to a report from tech.eu.
With this equity, the InsurTech is looking to expand internationally, increase the size of its team and improve customer experience.
Based in Paris, Lovys offers a subscription-based insurance policy to protect homes, cars and smartphones.
Lovys founder João Cardoso told tech.eu, “We are working hard to achieve our mission and our efforts are paying off – our number of policyholders is constantly growing and we have found trusted investors who believe in the project as much as we do. This fundraise will allow us to grow further and give us the means to execute our vision: transforming insurance to make it accessible, simple, and transparent.”
The InsurTech previously raised $3.3m in is seed round in 2019. Capital was supplied by MAIF Avenir, the investment fund of the insurance firm MAIF group, and venture firms Portugal Ventures and Plug & Play.
Copyright © 2021 FinTech Global
