Berlin-based startup simplesurance, a leader in the InsurTech industry developing an insurance service platform, receives 24 Million Dollars in the final Series-C Round.
Rheingau Founders, Rakuten Capital, the investment arm of Rakuten, Inc., and Allianz X have announced further investment. Lead investor is Allianz, who has started a financial and strategic partnership in 2016.
“We are excited about Allianz X’s follow-on investment into simplesurance,” said Dr. Nazim Cetin, CEO of Allianz X. “We have developed a great partnership and look forward to continuing the partnership and cooperation with simplesurance.”
This is the largest funding round since simplesurance’s founding in 2012 and will go towards expansion into new markets with Japan as a possible first target. Funding will also support the launch of new services like Cyber Protection, later this year.
The InsurTech industry has seen tremendous growth during the past year with simplesurance among the leaders in Europe.
“After six years, simplesurance is on the right track and we’re showing steady growth”, says simplesurance founder Robin von Hein proudly. “This additional investment will strengthen our competitive position as a leading insurance service provider around the world and facilitate expansion into new markets.”
"simplesurance has developed innovative solutions in both e-commerce and product insurance and has grown into one of the leaders in InsurTech”, said Michael Piechalak, Principal at Rakuten Capital. "As Rakuten Capital is focused on working collaboratively with our portfolio companies on building long-term growth strategies, we are excited to be part of their future journey."
Founded in 2012, simplesurance has been changing the way people perceive and buy insurance, enabling customers to obtain tailored insurance policies for products purchased online. The company currently operates in 28 European markets as well as in North America through a partnership with New York based risk management services provider, Assurant.
“Our ticket in this round has been Rheingau’s investment so far. We are thrilled by the dynamic and successful development Robin, Joachim, and their whole team have led since we founded the company together. Simplesurance benefits from a first mover advantage in its cross-selling solution which now paves the ways for rapid global scaling”, says Dr. Tobias Johann from Rheingau Founders.
Simplesurance was founded with the digital customer journey in mind and develops innovative cross-selling software solutions that have been integrated into more than 2,500 online retail shops, enabling customers to purchase product insurance at the point-of-sale. Leading ecommerce companies weltbild.de, preis24.de and Rakuten, financial providers like Revolut as well as smartphone manufacturers Huawei and OnePlus are among the companies utilizing simplesurance’s solutions which generate extra margins for the shops and increase the level of customer service. The one-click-experience in the shopping basket provides customers with an all-inclusive service during their digital customer journey. Generation of insurance-relevant data, claim management and repair processing are fully automated.
With the launch of their own App “Schutzklick Makler”, simplesurance has extended the value chain for its customers in Germany and their existing offerings of product insurance in e-commerce and on its the proprietary retail platforms including schutzklick.de. The app enables consumers to compare, purchase and manage insurance policies from a wide selection of providers. Customers also have access to an insurance expert that can provide guidance in selecting the right policy directly via app.