End-to-end digital insurance platform Insify has closed its Series A funding round on €15m as it seeks to expand across Europe.
Accel served as the lead investor, with commitments also coming from Visionaries Club, Frontline Ventures and Fly Ventures. Several unnamed angel investors also committed capital to the round.
With the capital, the company plans to hire more staff and expand into new markets across Europe.
Founded in 2020 by Bloomon co-founder Koen Thijssen, Insify is aimed at making it simpler, faster and more affordable for entrepreneurs and SMEs to access commercial insurance. Its end-to-end digital customer journey helps SMEs get business insurance quotes within two minutes.
The Netherlands-based company builds proprietary and tailored insurance products, spanning liability and professional indemnity to occupational disability cover. Its policies are backed by Munich Re.
It operates across various channels, including direct online signup, embedded partnerships and through brokers.
After its first commercial year of operations, Insify has over 1,500 policies.
Insify CEO and founder Koen Thijssen said, “As an entrepreneur myself, I know first-hand that running a small business can be difficult at the best of times. The last thing business owners need is to be overextending themselves with convoluted insurance policies and dealing with excessive premiums.
“Insurance should be something that supports entrepreneurs, not overwhelms them. We designed our digital insurance platform with the entrepreneur and SMEs at its core. With our easy-to-use platform, we can deliver a tailored and accurately priced insurance policy to an entrepreneur’s inbox in as little as two minutes, giving them the peace of mind that they need to focus on their core business.”
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