Penni.io raises €2 million

Penni.io, the Danish insurtech startup on a mission to enable insurance providers to sell any insurance product online through any distribution partner, has raised €2 million from individual investors with insurance backgrounds – Finn Fabricius, Niels Mortensen, and Hans Peterson.

Founded in 2016, Penni.io is helping insurance firms, brokers and distribution partners sell and customize insurance products online by offering Penni Connect, its platform for building embeddable insurance widgets and checkout frontends. In its three years of existence, the startup has managed to increase online sales for several large insurance companies in France, the Nordics and the UK. The startup is also announcing that it has partnered with French international services group APRIL and neobank Anytime, to launch an insurtech-driven sales channel.

“They [Penni.io] impress by solving a large need for online sales and service through partners. They can connect the industry’s old IT systems to modern solutions – and they have proven that they can execute faster and use less resources than insurance companies would.” – Niels Mortensen.

Bottom Line: Competing with simplesurance