+Simple, which helps to simplify insurance underwriting, has closed a €20m funding round and the acquisition of wholesale broker April Entreprise.
Idinvest led the investment, with contributions also coming from OneRagtime, Mundi Ventures and Speedinvest.
Funds from the round will be used to support the company’s development projects in France and Europe, as well as the expansion of its innovation efforts.
Founded in 2015, +Simple has built a robo-broker which simplifies the process of signing up for all the insurance policies for freelancers, and small and medium-sized businesses.
+ Simple president Eric Mignot said: “We are delighted to announce this new fundraising, which will enable us to give a real boost to our business development strategy. In an economic climate that is favourable to the digitalization of brokerage services, it will help us to expand our range of products to support an ever-growing volume of professionals, not only in France but also in Italy and Germany in the coming months.”
In addition to the close of the investment, the company has acquired April Entreprise, a wholesale broker specialised in the health and regulated services sectors. The deal will see +Simple integrate around 30 employees in France, which will help it grow its presence in the country.
The InsurTech’s former funding round was a €10m investment in 2018.
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