MUNICH, BERLIN | October 2, 2018 – simplesurance, a high-growth leader in the Insurance Technology industry providing simple access to insurance through its smart insurance services platform, announced it raised 11.5 million USD. The funding will be used to push the continuing international roll-out of the platform. Investors are the multinational insurance company Tokio Marine Holdings, Inc. (TMHD) and the Franco-German financial group ODDO BHF. Drake Star Partners acted as the exclusive financial advisor to simplesurance on this transaction.
This financing round increases the total funding of simplesurance to 60 Million USD and marks simplesurance’s position as best-funded InsurTech in Europe. TMHD is a multinational insurance holding company and the largest insurance group in Japan. With its investment in simplesurance, TMHD will support simplesurance’s market entry in Japan, as well as planning its continued expansion across Asia.
“We are confident that through our collaboration with simplesurance, a world leading InsurTech company that provides an insurance platform utilising innovative technology, we will be able to bring innovation to the Japanese and Asian insurance markets”, says Mr. Osamu Kanda, Managing Executive Officer and Chief Commercial Company Officer at Tokio Marine and Nichido Fire Insurance Co., Ltd.
Simplesurance’s Founder Robin von Hein expressed pride in the development of the company and its expansion into the highly attractive Japanese insurance market. “Six years after the founding we are already active in 28 European countries and are now capturing the Japanese market”, says von Hein. The company’s Chief Insurance Officer Dominik Bark, added: “The Japanese market is very attractive. However, digital change hasn’t arrived yet in the industry although the people are very tech-savvy. By using our first mover advantage for digital insurance solutions we will be able to build an entirely new InsurTech market in Japan.”
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 160 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in mid-cap companies. The financing into simplesurance is a proven sign of trust and endorsement, and marks the start of a long-term partnership. Phillipe Oddo, Managing Partner at ODDO BHF, said: “In our innovation process, we have decided to invest in Fintechs. We have already invested in two Fintechs in France – Lydia and Bankin. simplesurance is our first investment in the German FinTech market. We are convinced by its management and its unique business model.”
“Winning ODDO BHF – the family-owned unique Franco-German financial group – as an investment partner strengthens our competitive position as a leading insurance service provider around the world and facilitates our diversification and expansion strategy”, said simplesurance’s founder and CEO Robin von Hein.
“simplesurance is a clear leader in the European InsurTech industry and we are excited to have been a part of their journey to become the best-funded InsurTech in Europe. Together with the strong management team we are confident that simplesurance will successfully expand into new markets internationally and assert its position as the number one insurance platform globally”, said Julian Ostertag, Managing Partner at Drake Star Partners.
“With a great understanding of the global Financial and Insurance Technology environments and enormous global reach and network, Drake Star Partners was the perfect partner for us to find strong additional shareholders supporting our global expansion strategy as part of a highly competitive, global process”, said Robin von Hein.
Drake Star Partners’ team: Julian Ostertag, Benedikt Gottwald
simplesurance creates a platform for simple access to insurance. Profiting from a first mover advantage, simplesurance develops innovative cross-selling solutions at the touchpoint of the traditional and digital world. The integration allows the purchase of insurance at the point-of-sale in 28 countries. More than 2,500 partners including e-commerce and banking providers as well as manufacturers use the innovative power and flexibility of the company’s cross-selling platform.
Moreover, simplesurance provides customers in nine countries an easy and convenient way to purchase product insurance in its flagship stores. Additionally, simplesurance offers to all customers an innovative digital broker service called Schutzklick Makler to manage all of their insurances on their smartphones, easy and completely paperless.
Founded in 2012 simplesurance has over 150 employees from across 30 nations all working in the headquarter in Berlin.
Find more information on http://www.simplesurance.com/
For further inquiries, please contact:
Managing Partner | Drake Star Partners
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