InsurTech startup LeoCare nets €15m in new funding

InsurTech startup LeoCare has reportedly netted €15m in a funding round, which was backed by Felix Capital, Ventech and Daphni.

The InsurTech is planning to release a range of new tools in the future, including a bot that will let a user check the status of their case, according to a report from TechCrunch. It is also building a tool that will send a notification whilst driving if the area has a lot of accidents.

LeoCare is also looking to build a marketplace for professionals.

By the end of the year, the InsurTech hopes to grow its insurance portfolio sevenfold and increase the team to 80 employees, it said.

Through its mobile app, consumers can access tailor-made insurance policies for home, auto, motorbike and smartphone. Consumers answer four to eight questions to define their insurance needs, adjust the rate impact gauge and find the quote that suits them.

Consumers can alter the amount of deductibles, add a second driver, adjust guarantees and more.

Earlier in the week, fellow InsurTech platform Lovys reportedly collected €17m in its Series A round. The company offers a subscription-based insurance policy to protect homes, cars and smartphones.

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