Milan-based insurtech Wopta Assicurazioni has raised €4.1 million in Series A funding to expand its product range and add new personal line options, such as car insurance. The investors participating in the round include Asset Plus Srl, Confederazione Nazionale Artigiani, and Key Capital.
- Established in 2022 by Vincenzo Macaione, Wopta Assicurazioni is a Manging General Agent (MGA) specializing in protecting artisans, SMEs, and professionals. The startup designs tailored insurance solutions with insurers, offering in-person support and a digital platform for easy access.
- The startup provides three products and services: Wopta for artisans and SMEs, Wopta for individuals, and Wopta for life, offering tailored business protection, income protection, and financial support.
- Wopta experienced a threefold increase in 2023, reporting over €3 million in intermediated premiums, €1.4 million in total revenue, and a customer base of 180,000.
Details of the deal
- The fresh capital was backed by Asset Plus Srl, which consists of over 30 Italian families and business angels, including Holding B3 (Calzedonia Group), the Macchi family, the Cammi family, Ettore Riello, Davide Parenti, Massimo Ambrosini, and Cristina Parodi.
- Existing investors, including CNA (Confederazione Nazionale Artigiani), Key Capital Venture, Cordifin Spa, and Carlo Fagioli, also participated.
“Thanks to our physical business model, which integrates technology and human consulting, strategic partners, and trade associations, we continue to develop new solutions to protect professionals and businesses. For this milestone, we thank our customers and our investors for rewarding our commitment,” Founder and CEO of Wopta Assicurazioni, Vincenzo Macaione, commented.
- With the fresh capital, Wopta plans to broaden its product offerings, expand its distribution network, and introduce new solutions for personal lines, such as car insurance. Moreover, the startup intends to enhance its footprint through strategic acquisitions within both the Italian and broader European insurance sectors.
