The series A round was completed with Partech and Global Founders.
French insurtech Hoggo has raised €11 million in a Series A funding round led by Partech and Global Founders Capital. Hoggo was created in 2018 by Anna Rossin and Louis Fourrier and offers a free marketplace that helps businesses find the best health and collective insurance contracts. To do this, it analyses thousands of contracts available on the market in real-time and selects the best one for each business. Hoggo makes money by collecting business commissions from insurers.
The startup claims to have 2,000 clients, and the funds raised will allow it to double its workforce, going from 40 to 80 employees by the end of the year. The funding round was completed with the help of Transaction Services - 2CFinance who conducted the financial due diligence on Hoggo.
Partech is a venture capital firm focused on technology and digital companies, with offices in San Francisco, Paris, Berlin, and Dakar. Global Founders Capital is a Berlin-based venture capital firm that invests in technology startups. Hoggo’s latest funding round will help it expand its operations and strengthen its position in the French insurtech market.
In recent years, insurtech has become an increasingly popular investment area, with startups looking to disrupt traditional insurance business models. By leveraging new technologies such as AI and machine learning, insurtech companies are able to offer more personalized and efficient insurance products. The market for insurtech is expected to continue to grow, with many investors looking at the sector as a promising area for investment.