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French startup raises €25 million to become Europeʼs one-stop shop for SMB insurance
- Orus, a Paris-based digital insurer specializing in tailored insurance for independents and SMBs, raised €25 million in a Series B funding round to fuel international expansion, starting with Spain.
- The funding round was led by Singular, with participation from existing investors Notion Capital and Redstone.
- Orus aims to modernize the SMB insurance distribution model by offering transparent and tailored insurance solutions using technology.
- Founded in 2021, Orus provides online insurance products for small businesses and has a 70-person team with over 2,500 new clients per month.
- The company has raised a total of €41 million across funding rounds, focusing on simplifying business insurance for Europe's 25 million small businesses.
- Orus has experienced significant growth, with revenue increasing by tenfold since its Series A funding and protecting over 30,000 businesses in Europe.
- The platform uses algorithms and data points to assess risk and offer personalized coverage, including industry-specific options.
- Orus aims to offer a quick onboarding process and efficient claims management, distinguishing itself from traditional insurers.
- Spain is the first step in Orus' pan-European growth plan, with plans to enter more European markets in the future.
- Orus is introducing a new broker platform to allow intermediaries to quote, customize, and manage its digital-first insurance products.
- The platform combines technology and brokers' expertise to provide clients with a seamless digital experience.
- Investor Henri Tilloy praised Orus for redefining commercial insurance and recognized the company's rapid growth and potential to reshape the industry.
- Orus differentiates itself by offering comprehensive, intuitive solutions for various SMEs and accelerating the insurance process.
- The funding will support Orus in its mission to simplify SMB insurance across Europe and enhance its digital platform's capabilities.
- Orus leverages technology to make insurance processes simpler and more efficient for small businesses, addressing gaps in the traditional insurance sector.
- The company is focused on providing faster, customer-centric insurance solutions tailored to specific needs, setting itself apart from legacy insurance providers.
- Orus's strategic funding and growth plans position it as a leading digital insurer aiming to revolutionize the SMB insurance landscape in Europe.
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