Orus, a startup in the insurance technology sector, secures €11 million in series A funding. Leading the round are VR Ventures/Redstone and Notion Capital, with prior backers Frst, Partech, and Portage also investing.
A variety of top business angels from the insurance industry are also taking part in the round, including Thierry Daucourt (Axa), Grégoire Rastoul (Leocare), and Albert Malagarriga Fandos (Elma).
Orus is indicating its desire to continue altering the European professional insurance industry with the backing of additional foreign capital and plans to enter new markets in 2024.
Orus promises to offer all professionals insurance that is easier to comprehend, more equitable, and more efficient. A vision that, in less than a year, has already attracted more than 5,000 clients. With a TrustPilot rating of 4.8/5, the French startup is already the best-rated professional insurance company.
Read also – Lyon-based Mecaware has Secures €40mn in Funding
Côme Dartiguenave, Co-founder and CEO of Orus, said: “We are extremely proud to announce this funding round with Notion, VR Ventures/Redstone, with the participation of Partech, Frst, and Portage. It is a great sign of trust in our execution and in our vision to better protect SMBs. This funding round will allow us to expand our team with industry experts, to continue to develop our product, and to empower our distribution channels to build a European leader.”
Alison Imbert, Principal at Partech, commented: “We don’t fund projects, but teams. This is where Orus stands out with a concentration of talent, an excellent execution and an obsession with customer satisfaction making it for us the best company to quickly conquer the European market.”
Itxaso del Palacio, General Partner at Notion, added: “At present, insurance products are mainly designed for large corporations and don’t satisfy the needs of the SMBs. Orus is providing a new generation of insurance solutions that are modular and can be purchased in real-time, allowing small-business owners to build and pay only for the policies they need. The team has a clear understanding of the distribution channels, and we believe they are well positioned to grow into new European markets with this funding round.”
The business also has goals to add decennial insurance, independent health insurance, and worker’s compensation to its list of services in the months to come. The organization can meet all of the customers’ insurance requirements through offering a broad range of products.
Orus, which was founded in 2021, soon made a name for itself in the marketplace for professional insurance. The insurtech quickly grew its product to freelancers, retailers, and SMBs in general following being thoroughly evaluated and well-received by its first target group. Right now, Orus offers specialized coverage for tens of thousands of professions.