Swiss InsurTech Firm Helvengo Raises $4.4M

Swiss InsurTech startup Helvengo has raised more than 4 million euros ($4.4 million) in seed funding, according to reports Friday (Jan. 28).

The company says it will use the investment to help it expand into Germany and other European markets, and to grow with the help of partner platforms.

Active since last year in its home country, Helvengo designed its insurance coverage for the challenges facing entrepreneurs, small- to-medium sized businesses (SMBs) and startups like itself.

“We offer SMEs the opportunity to analyze and cover their risks in just a few minutes,” said Vedran Pranjic, the firm’s co-founder. “With this, we are making the commercial insurance market more digital, transparent and cost-effective.”

Helvengo says it provides a digital alternative to complicated and time-consuming analogue insurance shipping. Once it runs a risk analysis on a client, the company will automatically put together offers for professional liability, cyber and D&O insurance. The firm says its product puts a special focus on the challenges facing SMBs.

“Ninety percent of the market is served through insurance brokers, but securing business insurance takes a big chunk of a broker’s day,” Pranjic said.

“Hours are spent gathering quotes, helping the client make sense of them, processing forms and a lot of back and forth with insurance carriers to finalize contracts.” But with Helvengo, customers get “the digital toolbox of 2022 for the ideal coverage.”

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