Hellas Direct, a Greece-based insurtech platform, announced last week it has teamed up with Revolut to “shake up” the insurance industry in Greece and Cyprus. According to Hellas, the new partnership is aiming to improve customer experience and further drive transparency. The announced of Revolute partnership comes just a few months after Hellas Direct secured €7 million during its Series B funding round, which was led by IFC. While sharing more details about the partnership, Dimitris Litsikakis, Revolut’s country manager in Greece, stated:
“With its market-leading technology, Hellas Direct is uniquely placed to bring new life to an outdated insurance sector. We look forward to working with the team and to developing new micro-insurance, by-the-day products together.”
Alexis Pantazis, Executive Director of Hellas Direct, also commented:
“We are thrilled to partner with one of the leading companies in the global fintech scene. With Revolut, we share the same philosophy of transparency and we have a common approach to innovation” said
Emilios Markos, Co-Founder and Executive Director of Hellas Direct, went on to note:
“The cooperation with Revolut provides us with a unique opportunity to strengthen our position in the Greek market and to accelerate our growth both in Cyprus and in the wider region.”
Hellas then claimed this is one of the first strategic partnerships between disruptive companies in the broader fintech space. The company then added that the partnership will allow it and Revolut to push their offering into new markets and enable them to leapfrog some of the traditional barriers of growth and expansion by using the core competencies of each partner.