Online insurance company Prima Assicurazioni has reportedly secured €100m in a new round of funding.
The private equity capital was supplied by Goldman Sachs Private Capital Investing and Blackstone Group’s Tactical Opportunities, according to a number of reports in the media.
With this new line of investing, Prima is looking to explore new technology types and grow its marketing and sales teams, the articles report.
Italy-based Prima is a digital insurance provider, offering yearly policies for car, motorbike and van coverage. Policy holders can customise their cover to include protection for issues such as driver injuries, road assistance, legal protection, theft and fire, and vandalism, among others.
When a consumer finds the protection, they want they pay for the coverage over monthly installments.
Last month, fellow Italian FinTech company CashMe closed its own round of funding, bagging €1.5m from a group of unnamed backers. The company lets businesses upload their invoices to an online auction which investors can then bid on, with the highest bidder being able to fund the invoice.
There has been a handful of deals into Italian FinTech companies this year, including mobile payments app Satispay netting €10m, AI analytics company Kellify securing $1.73m and Bitcoin wallet Conio receiving $3m.
Last year, Italy’s FinTech space raised a total of $25.6m, of which, the majority went to companies in the payments and remittance space, according to data by FinTech Global.
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