Prima Assicurazioni S.p.A., a Milan, Italy-based online insurance company, raised €100m in private equity funding.
Backers included Goldman Sachs Private Capital Investing and Blackstone Group’s Tactical Opportunities.
The company intends to use the funds to invest in new technologies and expand its marketing and sales teams.
Founded in 2015 by Great Lakes Insurance SE Gruppo Munich Re and led by CEO Aberto Genovese and Teodoro D’Ambrosio, Prima Assicurazioni is an online insurance company focused on policies for cars, motorcycles and trucks.
The company, which also offers h24/7 support, has approx. 250k clients, 15k clients supported every month, and 1k repair shops and assistance centers across the country. It has €65m revenues a year.