Austrian InsurTech bsurance has raised €4m in a Series A round as it plans expansion into Western Europe and the CEE region.
UNIQA’s corporate venture capital arm, UNIQA Ventures has reinvested in the business alongside other new backers.
bsurance was founded in 2017 and specialises in B2B2C business models in the insurance sector. The company was established out of an accelerator program at the Vienna-based innovation hub weXelerate.
The platform allow the implementation of tailor-made insurance products into the sales channels of companies with large client bases.
The start-up has established operations in Austria and Germany but has planned to expand into other Western European and CEE countries with the support of its strategic partners Munich Re and UNIQA.
bsurance has also announced that it is in talks with other insurance companies.
“At bsurance, we have invested in an experienced and effective team and a compelling and rapidly upwardly scalable business idea,” said UNIQA Ventures CEO Andreas Nemeth.
“The exceptional traction of the last few months forms an excellent basis to become the leading digital B2B2C provider in Europe.”
Last year UNIQA Ventures joined a €10m Series A round for FinCompare, a Berlin-based startup offering a comparison platform for SME financing.
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