Italy’s Neosurance said to raise €1.1m in funding

Italian InsurTech startup Neosurance, which helps consumers find the right policy, has reportedly bagged €1.1m in a round.

The company’s pre-money valuation was set at around €10m, according to a report from FinSMEs.

Investments to the round came from life insurance firm Net Insurance, Luiss Alumni 4 Growth and a group of investors led by Mezzetti Advisory Group, the article claims.

In line with the deal, existing backers Neosperience’s and Digitaltech International will see their stakes in the InsurTech drop from 36.6% to 32.4%.

The InsurTech is an insurance broker which provides insurance companies with tools to better leverage customer data to offer better products to consumers.

Neosurance previously received a €50,000 grant from the EU’s Executive Agency for Small and Medium-sized Enterprises (EASME) and €705,000 in a round in 2017.

Italy has established a strong InsurTech sector, with 57.4% of the total $273.8m invested into the country’s FinTech space, going to InsurTech companies.

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