Announcing our third exit: +Simple
Five years after we led +Simple’s seed round, we are thrilled to announce that US-based leading private equity fund KKR, through its KKR Next Generation Technology Growth Fund II, snapped up +Simple in a $90M LBO financing round in what represents our third exit, after Zenly in 2017 (Acquired by Snap) and Glose in 2021 (Acquired by Medium). This new capital will help the company further develop its European expansion and enhance its product offering.
+Simple founders Eric Mignot, Anthony Jouannau and Salah Hamida also participated in this financing round alongside Eurazeo and Speedinvest, as well as Tikehau Capital, providing debt to accelerate +Simple’s growth.
When we first invested in Paris-based start-up +Simple back in 2017, the insurance industry had a pressing need for revamp: complex, unadapted solutions drowned SMEs and independants in paperwork, often letting them deal with multiple providers.
+Simple is the longed-for solution for SMEs, allowing taxi drivers, auto repair owners, and +400 other professions to benefit from a subscription-based tailor-made solution designed for their activities, needs, and obligations.
Thanks to a unique robot-broker in-house technology and a network of +20 insurance partners, +Simple is now the digital broker for +100.000 professionals in France, Germany and Italy.
“We see a lot of potential in Europe and in France in insurtech and +Simple has everything to become a European leader,” says Lauriane Requena, investor at KKR.
We are proud to have supported +Simple from the get go. This acquisition represents why our model works — smart money takes on its full meaning:
“+Simple was recommended to us by one of our very first community members, and has then attracted the interest of more than 50 investors from the community in our platform. Our model has allowed us to gather investors with complementary profiles, many of whom opened their network and provided unparalleled experience and support to the team” says Stephanie Hospital, CEO at OneRagtime.
During the last years, OneRagtime worked closely with the +Simple team to give them access to partners and clients, structure their “equity story” and provide them with an insurance industry expert advisor: Jeremy Langlois, Head of FIG at Messier & Associés.