What the business is
Olino is a Paris-based insurtech whose 100% online platform lets companies serving SME customers add insurance offers into their customer onboarding journey.
Starting capital
€2.2 million seed led by Newfund with Astorya.VC, MCapital and three unnamed angel investors
How it started
Founded in 2021 as Riskee, the young French insurtech spent its first year building an online platform to simplify insurance and being identified as an expert in on-board and tailor-made professional insurance, says co-founder and COO Dorian Jorry.
What happened
In October 2022 the company rebranded from Riskee to Olino and announced a €2.2 million seed round led by Newfund, with participation from vertical investment firm Astorya.VC, MCapital and a trio of unnamed angels. It was already available in 15 digital insurance products, with partnerships including revenue-based finance firm Silvr, SME software maker Axonaut and a number of unnamed neobanks.
What has to be true
Embedded insurance at onboarding attacks distribution costs — the industry's hardest expense — by riding partners' customer flows.
The rebrand to Olino marks the pivot from a generic insurtech name to an embedded-insurance platform identity.
Existing integrations (15 products, Silvr, Axonaut, neobanks) gave the seed round proof of the model rather than a slide deck.
What can be applied
Distribution beats product in insurance: Olino sells the same cover by borrowing other companies' onboarding moments, and a free contract-reader tool buys trust with the SMEs behind them.
Aftermath
As of October 2022, Olino was live in 15 digital insurance products and set to 'conquer Europe' with the seed funding, supervised by the ACPR - Banque de France.
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