By Tech.eu
Expat insurance startup Feather has secured €6 million in funding, bringing its funding to €10 million.
Today’s insurance offerings fall short in meeting the needs of the mobile migrant workforce, and student population. They’re too complicated for non-native speakers to understand; fragmented, and don’t easily translate across borders.
Feather was founded in 2018 by Rob Schumacher and Vincent Audoire in 2018, while participating in Entrepreneur First’s first Berlin cohort.
After relocating to Germany, the pair struggled to navigate its insurance system and decided to create a bespoke platform to solve all of these shortcomings. It’s the service the founders wish they had – a digital platform, built from the ground-up, offering honest, unbiased advice and recommendations.
The company has developed a pan-European digital platform to serve the over 50 million expats living and working in Europe, each of whom require different types and levels of insurance cover.
At its core is Feather’s purpose-built and modular full-stack tech platform. Feather partners with insurance companies, ensuring regulatory compliance while allowing Feather to manage all aspects of the insurance process online and in-house – from policy documentation to claims processing. This not only makes Feather cheaper, and more responsive but it allows them to offer a better user experience.
To date, Feather has helped 50,000+ people from over 150 countries get insurance digitally. It currently serves expats in Germany, France and Spain with three more countries set to launch by the end of 2024.
Having established the platform and partnerships, this expansion is backed by rapid growth, with its most recent launch into Spain already showing significant trajectory; achieving more in the six months post-launch than Feather did in its first 18 months in Germany.
Rob Schumacher, co-founder of Feather, said:
“Our mission has always been clear: to build an insurance platform that not only meets the needs of today’s expats but does so with transparency, simplicity, and trust.
This funding represents a vote of confidence in our vision and our technology, and we are excited about the opportunities it opens up for us to serve the expat community across Europe even better.”
The round was led by Keen Venture Partners with Plural and senior leaders from Allianz, AXA and Bastian.
Taavet Hinrikus, Partner at Plural said:
“With a laser focus on expats’ needs and a best-in-class tech platform, Feather is breaking down the complex, regulated insurance industry with an exceptional founder, and market fit.
There are many parallels to the growth and trajectory of Wise and Feather’s early success is a clear sign of things to come.”
Abdul Afridi, from Keen said:
“Feather’s approach to insurtech stands out in a crowded market. Their expat experience resonated with me as a fellow expat but what has convinced me of the investment case was the robust technology and clear path to scalability Rob and Vincent have built.”
The funding will help Feather accelerate its expansion into new European markets creating a pan-European product which expats can take with them from country to country.
Lead image: Rob Schumacher and Vincent Audoire from Feather. Photo: uncredited.