Polish InsurTech Gabi sold for $320M

Polish InsurTech Gabi has been sold to the global company Experian for $320 million (1.3 billion zloty), MamStartup informs.

  • Gabi was founded by Krzysztof Kujawa and Pawel Olszewski from Poland, as well as the American Hanno Fitchner in 2016. It is based in San Francisco and has an R&D office in Poland.
  • Gabi’s product helps automate an insurance purchase process and provides greater transparency of rates. It also allows customers to compare offers from different insurance companies. Thanks to this, clients can quickly check which of them will pay off the most.
  • Since 2016 Gabi has raised more than $39 million VC funding over four rounds from funds such as Project A, Canvas Venture, A. Capital Ventures.
  • Following the deal, Gabi becomes a part of Experian, a company that provides solutions including credit risk assessment and analysis of the potential benefits of credit products for the retail and corporate sectors.
  • Gabi employs approximately 180 IT specialists, analysts, and graphic designers, as well as sales and customer service supporters. About 60 employees are based in the US, and 120 — in Poland and the EU. This Gabi’s staff will strengthen the global Experian’s team of 20,000 people in 44 countries.

“Poland has very good programmers, valued in the Silicon Valley, as well as very good human resources to support operational activities. In 2022, we can expect a practically doubling of the technology department in Poland,”

Pawel Olszewski, co-founder and CTO managing the team in Poland, says about future plans.