Leocare, founded in 2017 in France, offers a digital insurance brokerage that provides quick quotes for auto, home and other policies through a few simple questions. The company partners with several carriers to underwrite coverage. It serves around 60,000 customers, up from roughly 20,000 earlier this year. Leocare raised $110 million in a financing composed of debt and equity. The startup plans to launch in Spain in 2022 and aims to generate €100 million in revenue next year. Its current growth trajectory and recent capital infusion are positioned to support geographic expansion and revenue targets. LeoCare offers a mobile-first portfolio of insurance products — for cars, homes, motorbikes and smartphones — with an emphasis on streamlined onboarding and in-app policy management. Customers can sign up via the website or the mobile app and receive contracts immediately. The company operates as a managing general agent, partnering with multiple insurance companies to sell under its own brand. LeoCare reports €1 million in premiums per month and serves 20,000 customers, with contracts split roughly 63% car, 26% home, 7% motorbike and 4% smartphone. It is growing rapidly, with a reported month-over-month growth rate of 38%. Planned product work includes a case-status bot, driving-area accident notifications, and a marketplace of professionals; the company aims to grow its insurance portfolio sevenfold by the end of 2021 and expand the team from 35 to 80 people.

Total raised

$128M

Funding rounds

3

Latest round

Series B

Latest activity

Nov 2021