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Montreal Insurtech, Emma, Closes $6M Series A round
Led by prominent Canadian investors — Luge Capital, Investissement Québec, and Tactico — the $6M financing round will further enhance Emma’s impressive growth in the Canadian market. A year after taking part in the inaugural cohort of Intuit Prosperity Accelerator, Emma has grown by more than 500% and is now looking to help even more Canadian families get the right life insurance coverage.
In its push to disrupt the insurance industry, Emma will use the funds to provide its insurance products in all Canadian provinces, double the size of its current team, and build new products. Felix Deschatelets, Emma’s CEO and co-founder, explains that “it’s no secret that the demand for truly modern life insurance products has skyrocketed in the past years. With seasoned investors, strong partners, and a talented team, we now have the means to fulfill our ambitions and become families’ most loved insurance solution.”
Thanks to its strategic partnership with the insurance company Humania Assurance, Emma is able to build its own insurance products. While the startup currently offers the simplest and fastest life insurance in Canada, it also aims at bringing more inclusivity and accessibility with a series of new products. Nicolas Moskiou, Humania’s Executive Vice-President, expresses: “We are proud to have supported this insurtech, which offers peace of mind to thousands of young Canadian families. It is with innovative partnerships like this one that the insurance industry can evolve.”
Luge Capital General Partner, David Nault, highlighted the startup’s vision and proximity with its clients as its key differentiators: “We love Emma’s modern approach to insurance and so do their customers. Their growth and reviews convinced us that they are onto something big.” Thrilled that a modernized solution is available to Canadians, Liam Cheung, Tactico founder, adds “The life insurance industry has been in need of disruption as the inefficient processes have not evolved in the same way as other financial services.”
“Investissement Québec is proud to support Emma in this round of financing, which will allow the company to pursue its growth. This investment reflects our commitment to contribute to the development of promising young Québec companies in all regions by facilitating their access to capital and providing them with the assistance they need to achieve their objectives,” states Guy LeBlanc, President and CEO of Investissement Québec.
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