The French insurtech Dalma has just raised 15 million euros. An amount which already places it among the most important fundraisings of the semester within an ecosystem which is however beginning to falter outside of Europe. It must be said that the mutual health insurance market for animals has still been little invested and that it shows great promise for growth.
Two founders looking for partners
The French insurtech ecosystem should end this semester on a high note, despite a slowdown in investment, particularly across the Atlantic. Among the important fundraisings of this first half of the year, we note that of Dalma, 15 million euros (in series A).
This insurance for dogs and cats was launched just a year ago, in May 2021, with two million euros raised by the broker Ollie. The brand notably made itself known to the general public last January, when its two founders Alban de Préville and Raphaël Sadaka appeared on the show “Who wants to be my partner? » on M6.
They had come to offer investors 5% of the capital of their mutual animal against 300,000 euros. In the end, they were unable to convince them, but, less than six months later, this fundraising confirms the potential of this market.
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A niche market?
Insurtechs tend to develop more on products such as home insurance, car insurance, or borrower insurance. For this reason, an important space is to be conquered on the side of mutual health insurance for dogs and cats. During their TV appearance, the two entrepreneurs mentioned a market estimated at 300 million euros for France alone, and which would be worth a billion euros within five years.
Recently, an impressive fundraiser partly confirmed this perspective: British neoinsurance Bought by many (now Manypets) concluded a collection of no less than $350 million (series D) last year. The silver medal for the most important fundraiser of the year 2021 therefore goes to a mutual company for pets.
It must be said that across the Channel, the ” coverage “ of animals exceeds 60%, against barely 10% in France. To move away from a market that is on the contrary ultra-competitive like that of digital home insurance, an insurtech like Lovys has, for example, also positioned itself on this policy since last fall.
Develop a super-app for owners
To maintain its lead, Dalma is focusing on two areas of development following its lifting: the recruitment of more than thirty employees (i.e. a doubling of the workforce) and the creation of a « super-app » for pet ownerswhich would allow access, on a single interface, to all the services they need (online consultation of a veterinarian, follow-up of reimbursements, information and practical advice, etc.).
For the time being, the Dalma application already offers to take advantage of the advice of a veterinarian via private messages. On the formula side, the prices range depending on the dogs between 12.99 euros and 22.99 euros per monthet between 8.99 euros and 15.99 euros for cats. The health insurance also promises a refund within 48 hours, full coverage of costs, all without administrative or management fees. You can find these offers and get your quote by filling out the following form.
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