Italian insurtech BeSafe Group has raised €1.2 mn to accelerate the development of tech and insurance services for European tourism, holistically combining insurtech with travel tech.
This round will support BeSafe’s growth as well as accelerate its expansion in Europe. After the initial launch in Italy we are now in Spain and Portugal; and BeSafe Rate is now ready to roll out in France, Austria and Greece.
The round was jointly underwritten by CDP Venture Capital Sgr, through its Acceleration Fund, and Prana Ventures SICAF.
These new investor commitments underscore the significant growth and confirms the market validation phase executed by the company to date with the first external funds raised in 2021 (approx. of EUR 500k) with the participation of CDP Venture Capital Sgr and LVenture Group that accelerated the start-up, this first external round also included a number of business angels.
BeSafe’s services increase direct bookings, facilitate advance payment and offer guests new and unique services by solving a problem that all of us, as travellers have had; that is booking and paying for a trip and the fear of losing the money in case of cancellation.
BeSafe Rate was created precisely to eliminate this worry, while at the same time providing the accommodation structures a guarantee of payment, thanks to a rate with cancellation insurance included.
When BeSafe Rate is selected, it is the insurance company that refunds the guest in case of cancellation and the accommodation structure is relieved of this refund burden so its revenues are guaranteed when a reservation is cancelled.
BeSafe Rate was launched with this mission in mind: a prepaid rate with travel insurance included that is fully integrated with all the major hospitality booking software.
A digital solution that protects at no additional cost to the traveller, guaranteeing a refund in case of cancellation and assistance during their stay for unexpected events, while at the same time protecting the accommodation’s earnings.
Among the many startups analysed in recent months in the Traveltech industry, BeSafe is one that solves a problem for both hoteliers and travellers in a simple way with a scalable solution; this is why we believe BeSafe can scale to become an international player in the hospitality services market.Leonardo Saroni, partner at Prana Ventures
When using BeSafe, it is the insurance company that refunds the guest in case of cancellation, and the accommodation provider is relieved of this refund burden so its revenues are guaranteed when a reservation is cancelled. It means both travellers and travel providers can book with less stress and more peace of mind.
Alessandro Bartolucci, CEO & Co-Founder of BeSafe Group commented: “Our Insurtech and Fintech solutions respond to the real needs of accommodation structures: this is confirmed by the fact that more than 1300 Italian properties have chosen us, including hotel groups such as Best Western, Voihotels of the Alpitour group, Club Esse Hotels & Resorts, Arbatax Park Sardinia Resort, Acanfora Hotels & Resorts, Felix Hotels, Affitti Brevi, and more than 150,000 tourists have travelled safely with us so far – resulting in some 42,000 insured bookings”.
Alongside BeSafe Rate, which is a prepaid rate with travel insurance included that is fully integrated with all the major hospitality booking software, the Group has also introduced BeSafe Pay.
This is a PSD2-compliant hospitality payment gateway that automates the entire management of hotel bookings with a focus on data security and cost savings.
The innovative travel tech firm is therefore providing a full stack of digital solutions that protects travellers at no additional cost to them, whilst at the same time protecting the accommodations earnings. It’s a win-win solution for all.
The two products BeSafe Rate “the insured rate” and BeSafe Pay “the future gateway”, are now included in BeSafe Suite the “all-in-one” solution designed for the hospitality industry.
by Peter Sonner