Insurtech startup Korint has successfully raised €5 million in its latest funding round, led by Ventech and with continued support from existing investor 360 Capital. This recent investment brings the total funding Korint has garnered since its inception in late 2022 to €7 million. This financial boost aims to expedite the development and expansion of its innovative insurance platform.

Expansion and Innovation

Korint's first funding round, completed in March 2023, enabled the company to launch its flagship product: a sophisticated SaaS platform designed for the insurance sector. This platform facilitates the rapid deployment of new insurance products by leveraging a unique “event-sourcing” logic engine. This engine manages the entire lifecycle of insurance contracts in real time, handling even the most complex scenarios, such as multi-product policies or extensive asset fleets. The platform’s cloud-based, scalable infrastructure and API-driven architecture provide insurers and brokers with unparalleled flexibility and control over their product offerings.

The effectiveness of Korint’s solution is evidenced by its adoption by notable industry players. Wakam has utilized Korint’s technology for its first employee bicycle insurance product, while WTW has integrated it into its automotive breakdown services. Additionally, Korint has become the digital platform for Yeet Assurances, catering to telematics motor products for gig-economy drivers. The company anticipates more high-profile partnerships in the near future.

Future Plans

The new funding round will enable Korint to expand its team, particularly in technology and insurance expertise, to further enhance its platform's capabilities. This investment is crucial for addressing the significant demand for advanced digital tools in the insurance industry, particularly for managing complex B2B insurance policies.

Statements from Investors

Jean Bourcereau, President and Managing Partner at Ventech, expressed enthusiasm about Korint’s technological advancements, noting the competitive edge provided by their solutions. Bourcereau emphasized Ventech’s commitment to supporting innovative and ambitious entrepreneurs.

Thomas Nivard, Partner at 360 Capital, also highlighted the impressive progress Korint has made since its initial investment, underscoring the clear market need for digital transformation in insurance and expressing confidence that this new funding will solidify Korint’s position as a market leader.

Korint’s recent €5 million funding round, led by Ventech and supported by 360 Capital, marks a significant milestone in the company’s journey. With this additional capital, Korint is well-positioned to enhance its platform, expand its team, and continue its mission to revolutionize the insurance industry through advanced digital solutions.