Insify Raises €15M in Series A Financing

Insify, an Amsterdam, Netherlands-based end-to-end digital insurance platform designed for Europe’s entrepreneurs and SMEs, raised €15m in Series A financing.

The round was led by Accel joined by Visionaries Club as well as existing investors Frontline Ventures and Fly Ventures and angel investors from leading fintech companies. Luca Bocchio, Partner at Accel, joined Insify’s board, in conjunction with the funding.

The investment will be used to scale operations and headcount, and expand into new markets in Europe as well as enhancing its underwriting and data analytics capabilities.

Founded in 2020 by Koen Thijssen, who previously led Rocket Internet in Benelux and co-founded flower e-commerce business Bloomon (acquired by Bloom & Wild), Insify develops proprietary and tailored insurance products spanning business liability and professional indemnity to occupational disability cover, for entrepreneurs and small businesses in the e-commerce, leisure, construction, and IT sectors, among others, backed by Munich Re. The company insures businesses through several channels, including direct online signup, embedded partnerships with e-commerce and fintech platforms, and via brokers who want to add a seamless offering for small businesses. Insify is already protecting more than 1,500 small businesses in its initial market of the Netherlands.

FinSMEs

10/02/2022