Korint, the Insurtech Company, Raises €5M

Eighteen months after its initial funding round and the launch of its innovative Core Insurance Platform, Insurtech startup Korint has successfully raised €5 million in a second funding round. This round, led by Ventech with continued support from 360 Capital, brings Korint’s total funding to €7 million.

Korint’s Core Insurance Platform is a SaaS solution designed to revolutionize the insurance industry by enabling insurers and brokers to rapidly and extensively deploy new insurance products. The platform utilizes a sophisticated “event-sourcing” logic engine to manage the entire lifecycle of insurance contracts in real-time. This technology is adept at handling even the most complex cases, such as fleet policies with hundreds of assets or customers with multiple products. Additionally, Korint’s scalable, cloud-hosted infrastructure and API-based architecture offer clients significant flexibility and control over product management.

The platform has already garnered interest from prominent industry players. Wakam, for example, has used Korint’s solution to launch its first insurance product for employees’ bicycles. WTW has adopted the SaaS for an automotive breakdown cover aimed at an OEM. Furthermore, Korint has become the digital platform for Yeet Assurances, facilitating their telematics motor products for gig-economy drivers. The company anticipates signing additional partners in the near future.

The new funding will empower Korint to significantly enhance its technology and insurance development teams, accelerating the advancement of its Core Insurance Platform. This infusion of capital will allow the company to tackle several pressing challenges within the insurance industry. Specifically, Korint aims to address the urgent need for a robust digital management tool that can seamlessly handle complex B2B insurance policies. The goal is to provide a comprehensive solution that not only improves efficiency but also supports the industry's shift towards more advanced, technology-driven processes.

Jean Bourcereau, President and Managing Partner at Ventech, expressed his enthusiasm about Korint’s technology, saying, “We were greatly impressed by the sophistication and technical excellence of Korint’s solutions. The platform’s ability to manage highly advanced and innovative insurance products gives it a substantial competitive edge in the market. This level of technological capability is rare and aligns perfectly with Ventech’s investment philosophy. Supporting visionary and ambitious entrepreneurs who harness technology to revolutionize industries is at the core of our investment strategy. Therefore, it was an obvious choice for us to support Jean-Baptiste, Martin, and their talented teams, as they are leading the way in transforming the insurance sector.”

Thomas Nivard, Partner at 360 Capital, expressed his enthusiasm about Korint’s progress since their first investment, stating, “We are thrilled to see Korint deliver on the potential we saw in them during our initial funding round 18 months ago. The insurance industry’s need for digital transformation is unmistakable, and this new round of funding will provide Korint with the resources and momentum required to solidify their position as a market leader. Their innovative approach and commitment to advancing digital solutions in insurance have already demonstrated significant promise, and we are confident that this additional support will enable them to set new standards in the industry.”