Our investment in Estaly
Estaly, a French start-up specializing in the simplification of insurance services, announces that it has raised €3.6m in Seed funding from OneRagtime and CDG Invest, as well as business angels from the retail and insurance worlds. Its aim: to invent a new way for consumers to experience insurance, and for retailers to forge links with their customers.
A new era for insurance
Still students at HEC and X, Mathis Batoul (CEO), Youssef Kanouni (COO) and Karim Mezzour (CTO) launched Estaly in 2022 to rethink the insurance experience. During an in-store sales training course, the three associates noticed the limitations and excesses of the so-called "affinity" insurances historically distributed by the major chains: lengthy administrative procedures for underwriting, dubious sales practices, multiple hidden clauses leading to a low compensation rate...
So they decided to take the opposite approach, offering a solution that guarantees instant protection and optimum responsiveness. The company stands out for its commitment to simplifying insurance, eliminating complications and fine print in favor of transparency.
At the same time, Estaly attaches great importance to customer satisfaction, with ultra-fast claims handling: 97% are settled and indemnified in less than 24 hours. This responsiveness and peace of mind for customers stands in stark contrast to the industry's usual delays. This consumer-centric approach has already won over 75% of their customers
Today, with over 300 retail partners in mainland France, the French overseas departments and territories and Belgium, Estaly provides them with insurance solutions tailored to the products they sell. Its customers include e-commerce sites Raviday, the optical brand Le Petit Lunetier and the bicycle brand Voltaire, the Citibike network, as well as the Easy Cash used-goods buy-back chain.
Fundraising to accelerate growth
This first round of financing will enable Estaly to strengthen its position within its ecosystem and establish itself as a leader in insurance and service. With a 90% renewal rate among its customer base, the startup aims to significantly expand its footprint, both in France and internationally. With the desire to democratize access to insurance, it aims to simplify the user experience as much as possible, so that this service becomes truly accessible to all, with no exclusions.
To support its growth ambitions, the company plans to strengthen its teams by recruiting new talent, particularly in technical and product profiles, in order to pursue its innovation efforts. The challenge is to continue to rethink the insurance experience in depth, taking advantage of new technologies to make it ever more fluid and personalized.
In addition to its geographic expansion, Estaly intends to broaden its offer by tackling new markets and types of goods/services to be covered. Sustained investment in R&D is also planned to develop more avant-garde solutions adapted to new consumer habits.
"With Estaly, we don't just sell insurance; we offer a re-enchanted retail experience, bringing serenity and confidence. We work closely with French (Covéa, CARMA, Acheel) and international (AIG) insurance partners to address the issues we address and design products that are suitable for everyone and comply with regulatory standards", explains Mathis Batoul, CEO and co-founder of Estaly.
"We are delighted to support Estaly. Their model, combining fast execution and industry-leading expertise, is exactly what the market needs. Estaly stands out for its ability to offer the best coverage for all product categories to merchants of all sizes, with simple and rapid integration. We were convinced by the founders' innovative vision, their ability to surround themselves with the best experts and partners, and their ability to deliver very quickly and efficiently," says Stéphanie Hospital, CEO and founder of OneRagtime.
"We are delighted with this alliance. Estaly, an insurtech with strong growth potential, is redefining the affinity insurance landscape thanks to its continuous innovation and the visionary spirit of its founders," says Nawfal Fassi Fihri, Managing Director of CDG Invest, in charge of the 212Founders program.
