No Demand for On-Demand
French startup Valoo will end operations in the next few days:
Founded in 2013, Valoo has raised $10.3m from several investors including 5M Ventures, MAIF Avenir, and Matmut. The startup offers a mobile app where users can keep track of what they own and see the current market value of their belongings. Users can also access additional services that include selling, sharing, and renting products. Last year, Valoo announced a new service: on-demand insurance in partnership with ALTIMA by MAIF where users can insure products with a minimum worth of €100 with just one click. Users can turn insurance on or off for products such as phones, tablets, speakers, computers, cameras, consoles, tennis rackets, guitars and more. Shortly after, Valoo partnered with Baloise on a limited release of its app in Switzerland.
“The end of Valoo is not only related to our offer on demand, but we have encountered real difficulties in the distribution of this offer,” said David Gascoin, the CEO and cofounder of Valoo to La Tribune.