Insurtech, Insoore secures 5.5 million euros in a capital increase round
Insurtech, Insoore secures 5.5 million euros  in a capital increase round

Insoore – the insurtech startup that redesigns document collection and claims management processes with a focus on digitization and innovation – secures 5.5 million euros in a capital increase. The lead investor is Proximity Capital through Mercurio Holding, with the participation of Lumen Ventures, Azimut Libera Impresa Sgr through Azimut Digitech Fund, GELLIFY, and some business angels. CDP Venture Capital Sgr, through the Accelerators Fund, converts the loan granted in 2020 as part of the AccelerOra operation.

“This capital increase is a leap forward towards strengthening the company,” commented Enrico Scianaro, CEO of Whoosnap, the company that owns Insoore. In just a few years, we have proved that the model we had in mind was able to rewrite some rules of the sector. We reached this milestone together with Federico Santini, Executive Chairman, Gerardo Gorga, COO, and Vito Arconzo, CTO, all part of a management with a bold vision that has followed and guided the Insoore project from the very beginning, and with a cohesive team of competent, passionate professionals capable of looking towards the same goal with determination. As a team, we are grateful for the trust that our investors have placed in us. It allows us to consolidate our structure and launch new challenges with a high potential for innovation.”

In 2021, the company reported a 150% revenue growth year-over-year. The revenue raised from 50 thousand euros in 2018, the year of Insoore’s launch, to over 2 million euros in 2021.

LOOKING TO THE FUTURE.The ‘Serie A’ round will serve to pursue at least three objectives: the definition of new projects that include solutions based on artificial intelligence algorithms for automatic damage detection, the growth of the team followed by the hiring of talents also internationally, and the expansion into new markets.

CLAIMS MANAGEMENT INNOVATION Insoore was launched by the startup Whoosnap, a company headquartered in Rome, Italy. Offering an alternative claims management model, it allows insurance companies and fleet management companies to digitize and accelerate processes, while saving time and costs. Insoore’s ambitious challenge was to innovate without sacrificing attention to stakeholders satisfaction—insurance companies, body shops, experts, up to every single policyholder. To accomplish this, it has introduced two key elements into the traditional process: technology and community.

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