Berlin’s insurtech INZMO secures $3.3M for launching new products

INZMO, a developer of a fully-digitalized insurance solution, has raised $3.3 in a seed round led by the Swiss Helvetica Venture Fund, its backer from the previous pre-seed round closed in 2018, Tech.eu writes. 

INZMO, which was launched in 2015, builds a platform and a mobile app, where the users can get any personal insurance in seconds. Everything from bicycles and scooters to electronics and smartphones can be insured. The startup also helps insurance companies to become more effective by reducing the costs of sales and administration and reducing the risk of insurance fraud.

Insurtech is planning to spend the fresh capital on launching household insurance products including a fully digital rental deposit guarantee service, which will allow its customers to pay monthly fees instead of paying deposits upfront. The proceeds will also support INZMO in growing its team and business.