Insify, an Amsterdam-based digital insurance platform designed for Europe’s entrepreneurs and SMEs, announced that it has raised €15M in a Series A round of funding led by global venture firm Accel.
Other investors, including Visionaries Club, Frontline Ventures, Fly Ventures, and angel investors from European fintech companies, also participated.
The funding will primarily be used to scale operations, workforce and expand into new markets in Europe, as well as enhance its underwriting and data analytics capabilities.
Founded by Koen Thijssen in 2020, Insify aims to transform business insurance by making it simpler, faster, and more affordable for entrepreneurs and SMEs.
The company has developed an intuitive end-to-end digital customer journey, offering SMEs a business insurance quote in as little as two minutes.
Leveraging data analytics, the company ensures that coverage is tailored and individually priced for each business.
The Dutch startup develops proprietary and tailored insurance products spanning business liability and professional indemnity to occupational disability cover for entrepreneurs and small businesses across various sectors, backed by Munich Re.
Businesses can insure with Insify through direct online signup, embedded partnerships with e-commerce and fintech platforms, and via brokers.
To date, the company is already protecting more than 1,500 small businesses in its initial market of the Netherlands.
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