What is Simplesurance?
Simplesurance operates as a digital platform dedicated to providing individuals and businesses with straightforward and accessible insurance services. The company leverages technology to streamline the insurance process, ensuring clients can obtain coverage efficiently and conveniently, regardless of their location. With a presence in multiple countries, Simplesurance tailors its insurance products to meet the specific demands of local markets, aiming to demystify insurance and enhance service delivery through robust connectivity and operational efficiency. Its business model focuses on simplifying complex insurance procedures, making it a key player in the digital transformation of the insurance industry.
How much funding has Simplesurance raised?
Simplesurance has raised a total of $96.4M across 6 funding rounds:
Series A
$2.5M
Series B
$8M
Private Equity
$32.2M
Series C
$24M
Unspecified
$11.5M
Debt
$18.2M
Series A (2013): $2.5M with participation from Mountain Partners
Series B (2015): $8M, investors not publicly disclosed
Private Equity (2017): $32.2M supported by Rheingau Founders, Rakuten, Allianz, and Route 66
Series C (2018): $24M featuring Allianz X, Rakuten Capital, and Rheingau Founders
Unspecified (2018): $11.5M backed by TMHD and ODDO BHF
Debt (2020): $18.2M with participation from Allianz X
Key Investors in Simplesurance
Allianz X
Allianz X is the strategic growth investments arm of Allianz Group, focused on investing in companies with exceptional growth potential in the financial services sector. The company actively manages high-conviction investments and forges partnerships to enable transformative collaborations and unlock value for the Allianz Group.
Rakuten Capital
Rakuten Group Inc. is a global technology conglomerate and innovation company headquartered in Tokyo, Japan, at the Rakuten Crimson House in the Futako Tamagawa area of Setagaya-ku. Founded in 1997 by Hiroshi Mikitani with just six employees, Rakuten has evolved from a pioneering online marketplace into one of the world's most comprehensive digital ecosystems, serving approximately 1.9 billion members worldwide across more than 30 countries and regions.
Rheingau Founders
Rheingau Founders is a venture capital firm that supports early-stage startups with the potential to disrupt existing processes and value chains sustainably. The company focuses on investing in small and mid-sized companies, particularly in the digitalization space, which are expected to drive future economic growth in Western Europe.
What's next for Simplesurance?
The recent strategic investment and overall substantial capital infusion position Simplesurance for accelerated growth and market penetration. With a clear trajectory from its early-stage financing to its current enterprise-level backing, the company is poised to expand its service offerings and geographic footprint. Future developments are likely to focus on enhancing its technological infrastructure, forging new partnerships, and potentially exploring new insurance verticals or complementary financial services. The ongoing support from major investors indicates strong confidence in Simplesurance's business model and its capacity to innovate within the competitive insurtech landscape.
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