Paris-based InsurTech Orus has raised €5m in funding for its mission of reinventing professional insurance.
The round saw participation from Frst, Partech, Portage Ventures and around twenty angel investors, including Pierre-Olivier Desaulle (ex-CEO of Hiscox Europe), Raphaël Vullierme (CEO of Luko), Christophe Triquet (ex-founder of MeilleurAssurance) and Arthur Waller (CEO of Pennylane).
Founded in 2021 by Côme Dartiguenave, Tom Le Bras, and Samuel Rossille, Orus’ goal is to enable professionals to develop their business with complete peace of mind, without spending too much time on administration, namely, obtaining insurance.
The InsurTech said whilst the activity of professionals and the tools at their disposal have been able to transform to make this as seamless as possible, the same cannot unfortunately be said of their insurance, which has not really evolved.
According to Orus, this is because traditional insurers generally consider that companies are too small to be able to create tailor-made products, adapted to each activity.
Orus however, offers products tailored to each sector of activity, accessible 100% online. Its first offer for example is aimed at restaurant owners.
Côme Dartiguenave, co-founder and CEO of Orus said, “Insurance is a social good to protect businesses. SMEs are the lifeblood of our economy and must be able to access the most suitable offer for their needs. Our mission is to create simple, efficient and affordable insurance to allow professionals to focus on what matters.”
InsurTechs are recognising that small businesses may have unique needs and represent and opportunity. Semsee, a commercial insurance platform, raised Series B funding earlier this year, also in a bid to make insurance for businesses simpler.
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