Koala builds modular travel insurance policies focused on removing exclusions, fully automating operations, and providing coverage that doesn’t require evidence. The company offers two core products: Koala Flex (Cancellation for Any Reason) and Koala Trip Disruption (for delays, cancellations and missed connections). Koala began commercialisation in Q1 2022, signing more than 30 agreements with partners including Direct Ferries, Pelikan and Vola, and protected more than 100,000 travellers in 2022. It says its B2B2C approach delivers conversion rates up to 2.5x industry standard and aims to safeguard 500,000 tourists by 2023. Koala plans to invest the new capital in data and machine learning, expand its tech and sales teams, and build new travel protections. The company emphasises hyper-specification and continual A/B testing to tailor pricing, protection details and visuals to different traveller segments. Koala offers a proactive disruption-compensation service that alerts travelers to issues (bad weather, strikes, etc.) and pays out instantly with a “no questions asked” policy. Compensation is available starting from a one-hour delay, though travel partners can adjust the minimum delay and payout amounts. The disrupted-flight product launched with Sky-Tours.com in May, and Koala is working on integrations with two other partners that will be announced once production is launched. Over the next three months the startup expects to go live with two airlines and four travel agencies. Founded in 2018 and having participated in Techstars Paris in 2019, Koala plans to expand coverage to other forms of travel by land and water. The company raised new seed funding to support growth and to hire 15 additional people in business and product development.

Total raised

$4M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2023