Insurtech: viteSicure closes a 2 million euro bridge round

ViteSicure, the Italian insurtech founded in 2020 and specializing in life protection, has closed a €2 million bridge round, underwritten by the Fondo Rilancio Startup managed by CDP Venture Capital SGR together with Apside (the joint venture created between Intesa Sanpaolo and Digital Magics), a number of business angels and almost all existing shareholders, including Reale Mutua Assicurazioni, who have confirmed their confidence in the company's vision.

The funds raised in this investment round will be used to foster and accelerate the company's growth path through new technology investments-especially in AI-and expansion into a new underinsured country with high development potential.

The just-closed round anticipates a subsequent Series A round by the company, currently scheduled for 2024.

"We are very pleased and grateful for the results of this funding round," commented Eleonora Del Vento, CEO and Co-Founder of viteSicure. "At a historical moment characterized by a general decrease in investment in the sector, particularly in the insurtech sphere, the confidence shown by our investors is confirmation that we are moving in the right direction, with metrics that show not only growth but also the sustainable profitability of our business model."

"In Italy we are helping to revolutionize the financial security of millennials by focusing on digital transformation and distinguishing ourselves by being sustainable, immediate and self-service ," said instead Alessandro Turra, Chief Marketing Officer and Co-Founder of viteSicure. "Now, with the help of our investors, we are ready to accelerate our growth process, enhancing our platform with investments in AI and kicking off our overseas development, which will start in an underinsured country with very high development potential."

"We are pleased with the investment made by Apside in viteSicure, an insurtech company that represents a distinctive example of digital transformation in the insurance sector," said Silvia Rinaldi, Chairman of the Board of Directors of Apside and Senior Director at Intesa Sanpaolo. "Apside recognized the distinctive features of viteSicure capable of offering the market a flexible, affordable product with an innovative approach. viteSicure, thanks to the consolidated experience of its founders, has managed to develop a product with ESG impact, a fundamental requirement in Apside's investment choices."

VITESICURE: INSURANCE TAILORED TO MILLENNIALS

viteSicure, on the market with a full digital process from January 2020, has from the beginning identified millennials as its target audience, a category that according to research suffers 61 percent from anxiety about their family's future, but still remains unreceptive to insurance offerings .

Thanks to an approach based on technology, speed, and the economic sustainability of its offerings, the company has grown significantly over the years, reaching more than doubling its revenues in 2022 over the previous year.

Now, with this new cash injection, the company will be able to further accelerate its growth process.