Insurtech Estaly has raised $3.8 mn in seed funding from OneRagtime, CDG Invest, and approximately 20 angel investors.
CDG Invest, through its 212Founders program, contributed $520К to Estaly’s funding round, alongside OneRagtime and business angels, totalling $10.6 mn.
This initial funding will enable Estaly to strengthen its position within the insurance ecosystem and establish itself as a leader in insurance and service.
Established in 2022, Estaly operates in France and Belgium, offering product protection through merchants for a wide variety of goods.
Insurtech Estaly is a technology-driven company in the insurance sector that leverages innovative technologies to enhance and streamline the insurance process.
The startup is working with over 300 merchants and plans to expand its operations to Spain and Italy next year.
Estaly aims to democratize access to insurance by simplifying the user experience, making the service more accessible to all.
As part of its mission to support entrepreneurship and enhance the Moroccan economy, the 212Founders program has facilitated 19 Seed and Series A financings since 2019, totaling 113 mn dirhams.
We managed to raise quite quickly, we received our first term sheet after three months. But it is true that investors were quite cautious, because we were in the middle of the twists and turns surrounding the placement in receivership of Luko and its takeover
Mathis Batoul, CEO and co-founder of Estaly
“In 2024, we will remain focused on the French market. In 2025, we aim to expand into the main European markets: Spain, Italy and Benelux,” Mathis Batoul says.
The company focuses on using big data analytics, artificial intelligence, and digital platforms to provide more efficient service delivery, personalized insurance products, and improved customer experiences.
These technologies allow Insurtech Estaly to offer competitive pricing, faster claims handling, and more accurate risk assessment, catering to the evolving needs of modern insurance customers.
by Peter Sonner
