German insurtech Simplesurance has secured $24 million during its Series C funding round, which was reportedly led by Allianz X, who also further invested in the company, with participation from Rakuten Capital.
Founded in 2012, Simplesurance stated it has created a platform that offers transparent and efficient insurance service. The company provides online retailers and electronic manufacturers in 30 counties. The platform also has more than 2,000 partners, which includes companies like OnePlus, Huawei Technologies, Rakuten, and Revolut. Simplesurance also reported that it provides customers in 9 countries with insurance options. Speaking about the investment, Dr. Nazim Cetin, CEO of Allianz X
“We are excited about Allianz X’s follow-on investment into simplesurance. We have developed a great partnership and look forward to continuing the partnership and cooperation with simplesurance.”
Simplesurance founder Robin von Hein, also commented:
“After six years, Simplesurance is on the right track and we’re showing steady growth. This additional investment will strengthen our competitive position as a leading insurance service provider around the world and facilitate expansion into new markets.”
Michael Piechalak, Principal at Rakuten Capital, added:
“Simplesurance has developed innovative solutions in both e-commerce and product insurance and has grown into one of the leaders in InsurTech. 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.”
Simplesurance plans to use the funds to continue the growth and development of its platform.