Neat raises 50 million euros in series A with its embedded insurance solution

Founded in May 2022, Neat has designed an insurance solution that is connected to the purchase journey. Their on-board insurance products are offered as a white label to merchants who want to provide guarantees to their customers, especially for theft, loss, breakage and breakdown. Neat therefore allows retailers, physical or online, to increase their income, build customer loyalty and offer a differentiated, turnkey service. In two years, the start-up has established itself as a major player in the on-board insurance sector and offers more than 40 insurance products or warranty extensions in more than 10 sectors (bank cards, high-tech, appliances household, travel, etc.). audio-medical, devices, show tickets, motion, etc.).

A model already profitable

Neat claims to grow “A whopping 700% over the past year”. Neat’s commission-based payment model allows merchants and partners who offer the solution to their customers to deduct integration or membership fees. A model that has already attracted 1 million customers and more than 1,500 distributors including players such as BNP Paribas, Decathlon, Pierre et Vacances, Rue du Commerce and Sport 2000. Profitable after only two year of activity, the BtoBtoC startup is supported by 8 of the largest insurers and insurers and has the ability to operate in 29 countries.

International ambitions

After an initial fundraising of 10 million euros in 2022, Neat is accelerating its development with a new funding round of 50 million euros led by Hedosophia and supported by World enterprisesETFS and Athletico Ventures. Octopus Ventures, New Alpha, Future founders etc Purplethe historic shareholders, again as part of this round.

Fabien Cazes and Maximilien Dauzet, co-founders of Neat, with their team of 40 people spread between Paris and Bordeaux, aim to consolidate their presence in France but also to develop their startup internationally , to be a leader in the sector. They declare, with joy: “In a difficult market environment for Insurtech in Europe, we are delighted with this record fundraising by international investors who are leaders in our sector. Our mission to help millions of people protect the products and services they value has just begun! This fundraising will give us the means to achieve our ambitions to continue creating bespoke, innovative, transparent and easy-to-use insurance products for our partners. »