Zelros, a French insurtech platform, announced earlier this week it secured $11 million through its Serie A funding round, which was led by BGV with participation from ISAI Cap Venture, and Plug and Play. The investment round brings the company’s funding to $16.5 million.
Founded in 2016, Zelros is a B2B independent software vendor specialized in the insurance and bancassurance markets. The company’s solution currently focuses on helping insurance advisors to better serve their clients by up-selling and cross-selling personal insurance products thanks to artificial intelligence and machine learning. Christophe Bourguignat, Zelros’ CEO, further explained:
“We believe that tomorrow’s leading insurers will be first of all technology companies, offering an outstanding customer experience. And Zelros will be at their side. We are driven by ambitious goals and thanks to our collective work we empower humans with explainable AI.”
The company also reported it currently works with 15 of what is claimed to be the leading insurance providers in Europe, which are BPCE, AXA, Crédit Agricole, MAIF, La Banque Postale, AssurOne, +Simple, across property and casualty (P&C) and life insurance business lines.
“Zelros also works closely with insurance regulators to promote usage of fair and transparent AI, and has published its own open standard for ethical, enterprise-grade AI to pave the way in this field. Zelros’ co-founder and COO, Damien Philippon, will relocate and launch the company’s Montreal-based North American headquarters in Q3 2021. The company plans to hire five full-time employees at its North American location by the end of the year.”
Zelros will be using the funds to continue the development of its platform.