Waffle, a U.S.-based consumer insurance solution, announced on Wednesday it raised $5 million through its seed funding round, which was led by Verve Ventures, with participation from BetterLabs Ventures and Techstars. The investment follows Waffle’s official launch in iOS and web, giving availability across all 50 states.
Founded in 2018, Waffle describes itself as an all-in-one app that puts all of the consumers’ insurance needs in one easy-to-use place.
“In simple terms, Waffle offers the ‘YOU’ insurance – one platform to protect you, everyone and everything you love. This includes your car, home, life, travel, pet, digital life, identity, friends and family.”
Waffle’s partners include MassMutual’s Haven Life Agency (Life), Blink by Chubb (Cyber), Crum & Forster Pet Insurance (Pet), Arch RoamRight (Travel), Clearcover (Auto), and Boost (Renter’s). While sharing more details about the company’s development, Quentin Coolen, CEO and Co-Founder of Waffle, explained:
“Insurance is one of the most important and necessary things in a person’s life, yet it’s also one of the most frustrating. Americans are constantly struggling when it comes to insurance: less than ideal coverage, the cost of needing to go out of network, lack of risk mitigation, etc. It doesn’t need to be this difficult or convoluted of a process, and that’s why we set out to make Waffle. We want to provide people with a sense of security and safety when it comes to the things that matter most in their lives.”
The seed round’s funds will be used to continue the growth and development of the Waffle platform. Waffle added its launch will be kicking off with Pet, Travel, Life, Cyber, and Renter’s insurance. Auto and Home insurance will be available to users by the end of June.
