France-based insurtech, Evy, picks €6.5 million to expand its operations

A French innovator in next-generation product protection, Evy, has secured funds totaling €6.5 million. To revolutionize support for retailers on the European market, Sequoia, La Famiglia VC, and Global Founders Capital invested alongside WATI and Statsig.

Renowned angel investors including Adrien Nussenbaum (Mirakl), Michael Benabou (Veepee), Raphael Vullierme (Luko), and Xavier Niel took part in the round as well. The Galeries Lafayette Group’s family office, Motier VC, is also placing its money in the insurance company.

Before its anticipated introduction in the UK in 2023, Evy is now expanding its services to include traditional physical stores in addition to e-retailers. It has already been deployed effectively in Italy, Spain, and Germany.

“By selecting Evy, our investors have demonstrated their confidence in the potency of our ground-breaking approach. It indicates that our product line satisfies a rising demand from merchants who want to give their customers the greatest possible shopping experience. According to Simon Kemoun, CEO and co-founder of Evy, “this money will enable us to expand our reach in the European insurance industry, estimated at 45 billion euros, through the continued development of our product protection solution and to strengthen our recruitment efforts.

“We are thrilled to work with Simon, Shana, and Tanguy to reinvent product insurance in Europe as part of the foundation of Evy. Their pan-European relationship with Mano Mano is evidence of the high caliber of the service and dependable experience provided. We are eager to introduce a variety of new merchants in various areas and categories shortly. remarked Sequoia Partners Stephanie Zhan and George Robson.

Over a dozen clients have already signed up with the insurtech startup Evy, which also claims pan-European cooperation with DIY unicorn ManoMano. It wants to dominate the insurance market for all product and service categories across both online and offline sales channels. Evy has launched more than 25 custom insurance packages for ManoMano in as many categories and four different European nations in less than four months.

“Evy allowed us to integrate a complete insurance solution in record time thanks to a profound grasp of our challenges and operational readiness,” said Cédric Torossian, Head of Services / New Business & Partnerships at ManoMano.

Evy is an eco-responsible insurance broker that will be introduced in 2022 by Simon Kemoun, Shana Azria, and Tanguy Le Stradic in Paris. By providing a cutting-edge client experience, Evy is ready to disrupt the market for product protection for shops operating in Europe. The US has recently seen the emergence of a new generation of product insurers, but the European sector is still mostly untouched.

By providing a cutting-edge customer experience and extensive coverage, including breakage, breakdown, and theft for both goods and services, Evy, a next-generation insurance broker, is reviving this sector. With its adaptable insurance solutions, assured by top insurance partners, the company hopes to provide stores and online retailers with increased margins.

It offers a completely integrable turnkey product protection solution that can be added to a retailer’s current sales channels. A comprehensive operating system with claims administration and a payment gateway, as well as a library of pre-built components, make implementation straightforward.

Image Credit: Evy