Vitaance, the first insurtech in Southern Europe specialized in insurance, has closed a financing round of an amount of 3 million euros. The operation, which has been a great success and which has been closed with excess of demand, has been led by Kindred Vendtures and has had the participation of important international and national investors such as Softbank, Astorya, Shilling VC y K Fund, among others. Moreover, other important business angels have also taken part of the round, which shows the great interest among investors from both the sector insurer and venture capital.
Ana Zamora, CEO of Vitaance, has valued the operation positively, “we are proud of how the round has gone and the great interest the most important international and national investors have showed in our company”. Zamora has added that “the successful closing of the operation is a great boost to our project and motivates us to continue with our future plans as the market has backed, without doubt, our strategic plan and even has showed its wishes to accompany Vitaance until we consolidate our leadership in Spain, Europe and other markets”.
The money raised in the financing round will be used to promote the growth of the company and in the incorporation of talent in all areas of Vitaance, especially in technology and insurance areas. In order to get that, Vitaance will develop an attractive benefit plan for employees in order to achieve its objective of incorporating a score of professionals to its staff.
Ana Zamora, again, affirms that “the incorporation of new talent and other professionals of excellence is one of the priorities of Vitaance, as it is to offer the same opportunities to female and male profiles in the company. In order to do that, we want to add to our project the best technology and sector professionals and develop an equality plan in order to guarantee an equitable workforce since, due to the experience we are having, we receive many more CVs from men than from women”. Zamora has also said that “the traction and retention of talent is one of the biggest challenges any startup has in this moment. However, we think that our innovative and different project will be a great asset that will decisively contribute to facilitating the recruitment work”.
A life insurance you want to use
The differential value of Vitaance is that the life insurance it offers is based on 4 pillars: flexibility, convenience, engagement and transparency and a fair price. These principles will allow the company to have a closer relationship with their customers and they will enjoy a good user experience.
In this sense, the company wants to set up a relationship of trust and closeness with its customers so they can have access to their products at any moment and interact with them in an easy way. To do that, Vitaance will also make advisers available to their customers so they can provide knowledge and advises about what type of coverage and amounts best suit their needs, how to improve their lifestyle habits and make them even healthier. In this way, customers with a healthier lifestyle will be able to access tangible advantages over the contracted products.
Moreover, the company sees flexibility as one of its priorities and it will offer its customers the possibility of cancelling the contracted product at any moment. In addition, Vitaance will also facilitate a continuous update of the insurance and facilities when managing it since as an essential part of Vitaance’s philosophy. The company bases its entire pricing strategy on transparency and on offering a fair and personalized price for each one of the customers.
Finally, it is important to highlight that Vitaance is working on developing an own scoring system based on the intense use of data and that provides an added value to their customers.