The smartphone application created by Datafolio makes it possible to insure a vehicle on demand and in use. Algorithms automatically calculate the cost based on distances and risks involved. After an initial fundraising of 2.2 million euros completed a year ago, the Lille start-up has extended its solution to all forms of mobility since the beginning of March.
Datafolio is no longer limited to the car but extends to scooters, motorcycles, bicycles and scooters. Technological novelty, the insurance is now triggered automatically, without the need to activate it as soon as you take the means of transport in hand.
“Thanks to the data captured by the smartphone, in particular the GPS which gives indications on speed and acceleration, our artificial intelligence algorithms make it possible to determine the mode of transport used”, underlines Yuri Narozniak, president and co-founder of Datafolio. . “And the amount of insurance is calculated automatically based on travel time, but also on driving behavior, the type of road and soon the weather. »
New VIP shareholders
Insurtech does not sell directly but goes through brokers, To continue the deployment of the application in Italy, where it was first launched last December, but also to market it in France from April , Datafolio has just completed its first financing to bring it to 4.3 million euros in total.
The new contribution of 2.1 million is subscribed for 1.3 million in capital and in the form of convertible bonds. Seven new shareholders are entering, including Fabio Sbianchi, founder of Octo Telematics, and Serge Brunschwig, president of Fendi, in a personal capacity. The balance of 800,000 euros was financed by a loan and aid from bpifrance, the Hauts-de-France region, the Hodéfi regional seed fund and Business France.
Thanks to this financing, the company, which employs 17 people, intends to recruit 19 more over the next year, to market the application and continue technological developments by enriching its offers as well as the customer experience. Datafolio is considering, for example, adding guarantees such as civil liability for micromobility or extending this application to rented vehicles.
DATA SHEET AND LETTER
Creation date : 2019
President : Yuri Narozniak
Amount raised: 2.1 million euros
Effective : 17 people