Koala raises €1.6 million led by Insurtech Gateway

Paris-based Koala has raised €1.6 million in a Seed round of financing led by Insurtech Gateway with participation from Playfair Capital, according to Crunchbase.

Founded in 2018, Koala is a team of ~6 led by co-founder and CEO Ugo Weyl. It offers travel insurance, proactively alert travelers to any disruption, and pays claims within 24 hours, on average. For now, judging by its site, the company depends entirely on a B2BC model: “Koala is sold in your purchase tunnel among other insurance or additional services.”