Paris-Based Insurtech Orus Raises €11 Million in Series A Funding
Paris-based insurtech Orus has raised €11 million in Series A funding to expand its innovative insurance services for SMBs across Europe. Notion Capital and VR Ventures/Redstone spearheaded the funding round, accompanied by notable investors such as Frst, Partech, and Portage. Esteemed figures within the insurance sector, including Thierry Daucourt (Axa), Grégoire Rastoul (Leocare), and Albert Malagarriga Fandos (Elma), also participated.
Founded in 2021, Orus initially ventured into the professional insurance landscape by crafting specialized insurance products for restaurant owners. This initial offering received positive feedback, propelling the insurtech to expand its services, catering to freelancers, retailers, and SMBs. Currently, Orus tailors policies to meet the unique needs of thousands of professions.
Orus prides itself on delivering simplified, equitable, and efficient insurance for professionals. Within a year, this vision has garnered over 5,000 satisfied customers. The startup has earned an impressive average rating of 4.8/5 on TrustPilot. Côme Dartiguenave, Co-founder and CEO of Orus, expressed his pride in the recent funding round and underscored its significance, stating,
“This funding round will allow us to expand our team with industry experts, develop our product further, and empower our distribution channels to build a European leader.”
Innovative Solutions for Professionals
Orus’s insurance solutions stand out for their efficiency and customer-centric approach. Their streamlined onboarding process, which takes only three minutes, ensures a hassle-free experience for policyholders. The digitalized claims management process further accelerates reimbursement, often in just a few hours. With a current team of 25 employees, Orus plans to double its workforce in the coming year.
Orus is not stopping at its current achievements. The insurtech company plans to broaden its product portfolio in the coming months, offering decennial insurance, self-employed health insurance, and workers’ compensation. This comprehensive approach aims to meet all the insurance needs of their policyholders. Orus’s modular insurance solutions can be tailored and purchased in real time, allowing small-business owners to pay only for the coverage they need
With a clear understanding of distribution channels and robust financial backing, Orus is poised for further expansion into new European markets, solidified by this latest funding round.
Future Prospects
Orus, supported by international funds, plans to continue its journey of transforming the professional insurance market across Europe and intends to venture into new territories in 2024.
