Italian insurtech company Lokky, an innovative startup founded in 2019 by CEO Paolo Tanfoglio and Sauro Mostarda (executive director), has closed a €2.5 million equity crowdfunding round on Mamacrowd.
The round on Mamacrowd, for which Lokky presented a pre-money valuation of €8 million and a minimum target of €1.5 million, saw the participation of more than 200 investors, among which Azimut, with €900,000 and another investor with €800,000, contributed about 50 percent of the funds raised.
Lokky, had been selected as a partner for the new Vittoria hub, a physical incubation space for insurtech and open innovation, inaugurated by Vittoria Assicurazioni.
Born2Invest’s team of journalists gathers the most interesting business news in a single mobile application. It’s impossible to keep up with everything you’re interested in, but our companion app will help you keep track of the important news. Our app is being updated throughout the day.
An algorithm to enable SMEs and professionals to choose the right policies
The insurtech startup aims to solve a paradox in the insurance system whereby an individual can easily find a digital and competitive offer, while a small business owner or professional has little choice, little clarity, and a lot of red tape.
Lokky, thanks to an internally developed algorithm, leverages innovative data management and utilization technologies to offer customers only the coverage best suited to their needs, eliminating unnecessary costs. In this way, the platform makes the entire insurance experience simple and completely digital: from quoting to paying and issuing the policy in a few simple steps.
Lokky’s track record
In the past 12 months, the company claims to have 1,500 clients for €600,000 worth of policies and 16 active partners in its portfolio, which include marketplaces, fintech companies, and utilities that are leaders in their field.
The company, after a seed round of €600,000, had closed in October 2020, another capital increase of about €1 million, underwritten by strategic private investors and also by Angels4Impact (A4I), an association composed of more than 60 young business angels.
Lokky has been awarded several times, both at the Italian and European levels. It won Best Insurtech 2022 at the Italy Insurance Awards, for its innovative model in the insurance field. It has also been included by Insurtech Insights and Sønr in the Future50, the 50 emerging startups set to shape and innovate the European insurance landscape.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Bank Superintendent Highlights Collaboration Between Banking and Fintech Companies in the Dominican Republic
During a virtual conference given to the participants of the XXII Latin American Congress of Technology and Innovation (CLAB), Citibank...
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 48]
This week, we're taking inspiration from the mythical Nigel Tufnel of Spinal Tap fame and turning things up to... seven....
The Corsica-Ukraine Association Calls for Donations to Help Ukrainian Hospitals
Created at the start of the war, Dr. Nataliya Khobta-Santoni's association increased its trips to Ukraine to deliver medicines and...
Wrapped Bitcoin Under Observation – Temporary Loss of Peg to BTC
The uncertainties surrounding Wrapped Bitcoin were apparently triggered by posts on Twitter that revealed that the insolvent Alameda Research is said to...
Gaining Ground in ESG Fixed Income
Incorporating ESG analysis into fixed-income investing carries several potential benefits. ESG scrutiny of a bond issuer can reveal exposure to long-term...
Business1 week ago
Holiday Travel Made Easier – The Perfect Shoe for Flying Past TSA
Crypto7 days ago
Recent Developments: Is Ethereum Still a Good Choice for Investment?
Business7 days ago
Give the Gift of Science-Backed Skincare This Christmas With Augustinus Bader
Featured2 weeks ago
Why the Trade Is Still Worried About Cotton Demand Moving Forward