French InsurTech Neat pulls in €10m


French insurance startup Neat, which says it is reinventing the protection of goods and services, has reportedly raised €10m in funding.

According to a report from Coverager, the capital came from Octopus Ventures, New Alpha, Mundi Ventures, Founders Future, and several angel investors.

Founded in 2022 by former employees of Lovys and Seyna, Neat offers a range of products that merchants can offer customers at the point of sale. Aside from extended warranties, Neat lists travel and mobility insurance as available products.

The company provides retailers with what it describes as “next generation embedded insurance”, so that they can then offer this to their customers.

The company said, “We combine state-of-the-art technology and human integrations so clients are efficiently covered and merchants can focus on what they do best: selling!”

The startup works with several insurance companies such as Mutuaide, Hannover Re, Acheel, and Vyv International Assistance, to offer the different products.

Neat’s underlying mission is to promote more sustainable consumption. By protecting products, the company said, this extends their lifespan and therefore reduced their environment and social impact in a sustainable way.

Its protection policies aims to promote repair and reconditioning rather than the purchase of new items.

Earlier this month, Olino, a French InsurTech startup formerly known as Riskee, raised €2.2m to develop its embedded insurance product for European SMEs.

According to a report from TechEU, the seed round was led by Newfund, with participation from vertical investment firm Astorya.VC, MCapital and a trio of unnamed angel investors.

Founded in 2021, the Paris-based startup is building an embedded insurance service. The platform is 100% online and is designed to help companies save time and money.

Olino is already available in 15 digital insurance products today, enabling anyone servicing SME customers to integrate insurance offers at some point in the customer on-boarding journey.

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.