Growth capital for insurtech Alicia to have 1 million freelancers insured in Europe by 2023
Alicia Insurance has raised 7 million euros in growth capital in a seed investment round.
Founded in 2019, the Dutch ‘insurtech’ believes that the growth in the number of under or uninsured freelancers can be combated by developing good and appropriate insurance policies for all self-employed people.
Alicia offers tailor-made insurance products that are offered in the customer journey on digital platforms that independents use, such as the Dutch Knab bank app or the platform of staffing agent HeadFirst Group. That means that they are presented with the most suitable insurance product when they are organising their finances in a banking app or when they accept a freelance assignment.
Alicia has added 20 new partners to its technology platform in recent months and is growing rapidly. The collaboration with Roamler marks the introduction of a collective, European plug-and-play insurance solution for work platforms. This collaboration is in line with Alicia’s international ambitions: the insurance solution is also available in Belgium, France, Germany, Spain, and the United Kingdom, in addition to the Netherlands. Alicia will pass 100.000 insured freelancers before the end of this year.
Randstad Innovation Fund and Volta Ventures already joined in 2021 as investors and strategic partners. Randstad, the global HR service provider, did so in support of its vision of ‘well-arranged work’. Volta Ventures adds further value through its knowledge of scaling up tech companies. Achmea Innovation Fund closed the seed round in October 2022. Their investment underlines Achmea’s mission to jointly solve social issues related to their themes of health, living and working, mobility, and income.
“In addition to adding value through growth capital and strategic expertise, we were also looking for a personal connection and a shared vision of Alicia’s future. With the funding, Alicia will roll out the embedded insurance solutions in various European countries in 2023, expand the product portfolio and continue to steadily develop our tech platform, which is the basis of Alicia’s success,” says Marijn Moerman, CEO and co-founder of Alicia. “People want to work in a different way than they did 30 years ago. Self-employed work is normal in 2022. Still, many self-employed people are working underinsured, because insurance is typically complex and expensive, and doesn’t fit the needs and wants of independent workers. We believe that embedded insurance makes insurance accessible. For a relatively low premium per hour, it’s possible to create sustainable independent work and solve the social problem of uninsured freelancers.”
“We are proud of this fine group of investors who, in the current investment climate, support us in realising our ambition: to have 1 million freelancers insured by the end of next year,” concludes Moerman.
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