Neosurance, a Milan, Italy-based insurtech startup, closed a €1.1m funding round.
Backers included Net Insurance, Luiss Alumni 4 Growth and a group of investors led by Mezzetti Advisory Group.
The round brought the company’s pre-money valuation to approx. €10m. In addition, Neosperience’s and Digitaltech International’s overall equity stake will decrease from 36.61% to 32.43% as a result of the deal.
Founded in 2016 by Andrea Silvello and Dario Melpignano, Neosurance is an insurtech startup that provides AI and machine learning powered solutions for carriers to sell microinsurance products in the short period.
The company had already received a €50k grant from Easme – EU Executive Agency for SMEs, a pre-seed funding in February 2017, and €705k in September 2017 from CEO Pietro Menghi and senior advisor Matteo Carbone.