Seyna raises €33 million

Paris-based Seyna, the first independent insurer to have been approved by the ACPR for non-life insurance activities in France since 1983, announced a €33 million Series A round led by WhiteStar Capital and Elaia Capital, with participation from Global Founders Capital, Allianz and Financière St James.

Founded in 2018, Seyna is in the space of ELEMENT, enabling companies to distribute insurance products while taking on the risk. In the early days, the startup mainly targeted non-insurance players but that has changed over the years.

Today, Senya’s main focus is brokers, offering them products and software tools to grow their brokerage businesses. The startup also plans to work with other carriers in order to place their products on the Senya platform.  “The advantages of Seyna’s platform currently only benefit customers covered by Seyna’s own insurance products. That’s a shame. We will gradually leverage Seyna’s ability to craft relevant protections and state-of-the-art customer experiences. Specifically, we will open Seyna’s platform to products carried by fellow insurers. Using Seyna, brokers should be able to run 100% of their activity.”

“An insurance broker’s mission is to protect clients as they take risks, enabling people to leap forward with peace of mind. To be successful, brokers need two assets. First, the ability to tailor insurance products to their unique clients’ needs. Second, the software to provide great client experiences and run their brokerage business efficiently. Due to the insurance industry’s outdated technology, brokers are struggling.” – Stephen Leguillon, CEO of Seyna.