French startup LeoCare raises $18.1 million

Paris-based LeoCare, an insurtech startup, has raised $18.1 million in a new funding round. The round was led by Felix Capital (a VC that focuses on digital commerce), Ventech (a Venture Capital firm specializing in early-stage investments), and Daphni (a Venture Capital fund investing in user-oriented, early-stage startups with the European DNA and strong international ambition). 

Founded in August 2017 by Christophe Dandois and Noureddine Bekrar, Leocare designs, distributes, and manages innovative home, auto, motorcycle, and smartphone insurance products for its customers. It is 100% mobile and offers the possibility of insuring simply and without obligation. 

The raised money will help the company to accelerate its growth. To date, Leocare has around 20,000 customers, and the startup is planning to gain 1 million customers in France and other parts of Europe by 2025.