Koala, a Paris based insurtech, announced an investment of €1.6m, led by Insurtech Gateway alongside Playfair Capital, Techstars Ventures, and private investors.
Koala’s data-driven products proactively alert travelers to any disruption and pay-out instantly, no forms, no exclusions, no questions asked.
Tracking all journeys in real-time, Koala instantly informs passengers as disruption occurs and issues cash compensation on the spot, whatever the cause of the delay might be.
This raise will be used to support growth plans, team expansion and new product development.
Ugo Weyl, Co-Founder and CEO at Koala said: “We are very excited to have Insurtech Gateway joining the Koala family, bringing their unique insurance expertise to the team. We are looking forward to having their support as we launch our product at Falcon 9 speed and scale internationally.”