Paris-based insurtech Korint, which offers next-gen B2B mobility insurance covering new and traditional transport, has secured €5 million in funding led by Ventech, with participation from 360 Capital. The investment will enable Korint to develop its platform further.
- Founded in 2022 by Jean-Baptiste Limare and Martin Gross, Korint develops an insurance platform that streamlines the process for insurers and brokers to launch new insurance products quickly.
- The startup offers a digital solution for B2B mobility insurance, managing all online motor insurance in real-time, including fleets, professional transportation, B2B2C, assistance, and affinity programs.
- Korint has partnered with several industry firms, including Aikan, AON, Yeet Assurances, Marsh, Mercer, and WTW.
Details of the deal
- Ventech Capital, a global venture capital firm with offices in Paris, Munich, Berlin, Helsinki, Stockholm, Shanghai, and Hong Kong, led the funding round. The firm supports tech startups with global ambitions and has made over 200 investments.
“We were impressed by the technicality of Korint’s solutions. The technologies used can manage the most advanced and innovative insurance products. Supporting ambitious and bold entrepreneurs who use technology to advance industries is the foundation of Ventech’s investment thesis. It was a natural choice for us to support Jean-Baptiste, Martin, and their teams," President and Managing Partner at Ventech, Jean Bourcereau, stated.
- The funding round also saw participation from existing investor 360 Capital, a Paris-based venture capital firm managing €500 million in assets. With offices in Paris and Milan, 360 Capital invests in early-stage, innovative deep tech and digital enterprises across Europe.
“We are delighted to see Korint confirm all the promises we perceived during our first funding 18 months ago. The market’s need for digitalization is clear, and this new round will give them all the means to become the market reference,” Partner at 360 Capital, Thomas Nirvad, commented.
- With this new funding, Korint plans to enhance its tech and insurance development team to speed up platform development. The company aims to address critical issues in the insurance industry by providing a comprehensive digital management tool designed to handle complex B2B insurance policies.
