GRACE funding news – France-based GRACE Raises €5.9Million in Seed Funding

The round was led by FinTech Collective and Speedinvest, with support from Firstminute Capital, Purple, Kima Ventures, and Bpifrance.

Prominent investors like Didier Valet (ex-Société Générale), Eric Mignot (+Simple), Maxime Brousse (Selency), Josef Bovet, Martin Hartley (PURE Insurance), and Thomas Clozel (Owkin) also joined the round.

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Olga Shikhantsova, Partner at Speedinvest, says, “GRACE has identified a significant gap in the luxury market and developed an innovative solution to address it. Lou, Quentin, and Martin’s deep understanding of both the luxury industry and the complexity of insurance is essential as they build a global product from day one. We’re beyond excited to support GRACE as they redefine luxury ownership and protection while setting a new standard of care between luxury brands and their clients.”

Quentin Roy, CEO of GRACE, says, “The alarming rise in luxury theft—highlighted by a 60 per cent surge in stolen luxury watches in 2023—is undermining customer confidence and brand experience. Existing solutions lack adaptability, global coverage, and seamless integration within the customer journey — three elements that are nonetheless essential to the luxury industry.”

GRACE gives luxury customers automatic protection against theft or loss, built into the brand experience and offered for free.

With the new funding, GRACE plans to protect over 200,000 luxury items through partnerships with top brands and a luxury group by the end of 2025.

Their partnership with global insurer Chubb supports GRACE’s global growth by providing tailored insurance, financial backing, and expertise to operate in key markets.

Toby Triebel, Partner at FinTech Collective, says, “Since our first meeting with Lou, Quentin, and Martin, their creativity, poise, and tenacity have stood out to us – all essential ingredients to become a category-defining partner to luxury goods companies. No insurance player has ever succeeded in creating an embedded product for this market with worldwide distribution capabilities, and we believe that GRACE is on a path to do just this.”

About GRACE

GRACE, founded in 2022 by Lou Dana, Quentin Roy, and Martin Lenweiter, is a fintech startup that offers automatic theft and loss protection for luxury items.

The protection starts as soon as the item is bought, stays with it even if gifted, and comes at no extra cost. It’s built into the luxury brand experience to keep things simple and seamless for customers.