Zelros, a Paris, France-based AI-driven platform dedicated to advancing insurance distribution, closed an $11M Series A financing round, bringing the total funding to date to $16.5M.
The round was led by BGV with participation from ISAI Cap Venture and Plug and Play and historical investors HI INOV, 42CAP and astorya.vc.
The company will use the funding to scale operations across Europe and expand into North America, strengthening its position in the insurtech space.
Led by Christophe Bourguignat, co-founder and CEO, and Damien Philippon, co-founder and COO, Zelros provides an AI business platform that offers insurers, bancassurers, and policyholders a personalized way to distribute and receive products and services. The platform continuously learns, adapts, and improves its capabilities in real-time, offering insurance advisors and agents a streamlined and semi-automated experience from product/service needs discovery and sales to underwriting. It also allows insurance providers to offer policyholders fully automated, advisor-free subscription options.
Zelros, which has 50 employees, currently works with 15 of the leading insurance providers in Europe, including BPCE, AXA, Crédit Agricole, MAIF, La Banque Postale, AssurOne, +Simple, across property and casualty (P&C) and life insurance business lines.
The company will relocate and launch its Montreal-based North American headquarters in Q3 2021. They plan to hire five full-time employees at its North American location by the end of the year.