One year after announcing its first funding round and the launch of its first insurance product, French insurtech Orus has raised €11 million in Series A funding.
October 10th, 2023, Paris - Oneyear after announcing its first funding round and the launch of its firstinsurance product, French insurtech Orus has raised €11 million in Series A funding.
The round is led by Europeanfunds Notion Capital and VR Ventures/Redstone, with previous investors Frst,Partech, and Portage also participating. The round also features several seniorbusiness angels from across the insurance space, including Thierry Daucourt(Axa), Grégoire Rastoul (Leocare), et Albert Malagarriga Fandos (Elma).
Becoming Frenchprofessionals’ favourite insurance inside 12 months
Founded in 2021, Orus quicklyestablished itself in the professional insurance market with the launch of itsfirst product for restaurant owners in June 2022. Tested and highly praised byits first target group, the insurtech quickly expanded its offering tofreelancers, retailers, as well as SMBs in general. Orus currently offerstailored policies for thousands of professions.
Orus' promise is to providesimpler, fairer, and more efficient insurance for all professionals. A visionthat has already won over 5,000 customers in less than a year. The Frenchstartup is already the highest-rated professional insurance company, with anaverage rating of 4.8/5 on TrustPilot.
Orus’ solution combines onlineonboarding in three minutes, tailored contracts, and a digitalised claimsmanagement process that allows for reimbursement in a matter of hours.
On its way to becoming the European leader
The Orus team already has 25employees and plans to double its workforce in the coming year. The company iscurrently looking for tech, data, and insurance hires to launch new offerings,improve the subscription experience, and support professionals in riskprevention.
The startup also plans to expandits offering in the coming months to provide decennial insurance, self-employedhealth insurance, and workers' compensation. By offering a complete range ofproducts to policyholders, the company can support all their insurance needs.
With the backing of moreinternational funds, Orus is signalling its intention to continue shaping theprofessional insurance market on a European scale and is planning to expandinto a new territory in 2024.
Côme Dartiguenave,Co-founder and CEO, Orus: "We are extremely proud toannounce this funding round with Notion, VR Ventures/Redstone, with theparticipation of Partech, Frst, and Portage. It is a great sign of trust in ourexecution and in our vision to better protect SMBs. This funding round willallow us to expand our team with industry experts, to continue to develop ourproduct, and to empower our distribution channels to build a European leader.”
Alison Imbert,Principal, Partech: "We don't fund projects,but teams. This is where Orus stands out with a concentration of talent, anexcellent execution and an obsession with customer satisfaction making it forus the best company to quickly conquer the European market."
Itxaso del Palacio,General Partner, Notion: "At present, insuranceproducts are mainly designed for large corporations and don't satisfy the needsof the SMBs. Orus is providing a new generation of insurance solutions that aremodular and can be purchased in real-time, allowing small-business owners tobuild and pay only for the policies they need. The team has a clearunderstanding of the distribution channels and we believe they are wellpositioned to grow into new European markets with this funding round."
Timo Fleig, GeneralPartner, VR Ventures/Redstone: "The professional insurancemarket in Europe is of considerable magnitude, and there is still a lot to bedone to tap into its potential. We are impressed by Orus's growth in the Frenchmarket in just one year, and we are convinced that they are the most competentteam to effectively conquer the European markets in the years to come."
About Orus
Orus’ mission is to better protect independents, small andmedium-sized enterprises with simpler, fairer, and more efficient professionalinsurance. Co-founded in 2021 by Côme Dartiguenave (CEO), Tom Le Bras (COO),and Samuel Rossille (CTO), Orus offers a comprehensive range of tailored onlineinsurance products (general liability, business owners’ policy, decennialliability insurance, workers’ compensation and health insurance). The companycurrently counts a team of 25 talents, a portfolio of over 5,000 clients, andis already the highest-rated professional insurtech in France by itspolicyholders. After announcing a €5 million seed funding in 2022, Orus raised a €11 million Series A funding roundin August 2023 with Notion Capital and VR Ventures/Redstone, with theparticipation of existing investors Frst, Partech, and Portage.