Insurtech startup simplesurance gets a €15M convertible loan from Allianz X

German startup simplesurance has got a €15 million convertible loan from Allianz X, Tech.eu writes.

Founded in 2012 by Robin von Hein and Joachim von Bonin, simplesurance is an e-commerce provider for product insurances with a head office in Berlin and Tokyo. The startup enables customers to purchase insurance with a few clicks within its flagship stores or via its cross-selling solution for e-commerce and FinTech provider, and within a digital insurance manager. 

To date, simplesurance has over 2,500 B2B customers including Revolut, OnePlus, Rakuten, and offers its services in 32 countries. According to Coverager, the startup also cooperates with non-insurance players such as fintech Numbrs and Samsung to offer phone insurance. More recently, it partnered with international oral health company SmileDirectClub to offer its German customers access to SmileNow, a dental health insurance plan by Allianz.

Allianz X is a €1 billion digital investment unit of the Allianz Group. It invests in digital growth companies that are part of its ecosystems related to insurance: Mobility, Connected Property, Connected Health, Wealth Management & Retirement, and Data Intelligence & Cybersecurity.