Evy embarks Sequoia and raises 6.5 million euros to revolutionize the world of insurance

Launched in 2022 by Simon Kemoun, Shana Azria and Tanguy Le Stradic, Evy, which positions itself as an eco-responsible on-board insurance broker, is set to revolutionize the world of product protection for merchants and e-merchants operating in Europe by offering innovative customer journey solutions. The group, which already has around ten customers, including the DIY unicorn ManoMano, aims to become the insurance champion for all categories of products and services for online and in-store sales channels.

A pioneer in the world of eco-responsible product insurance in Europe

Evy breathes new life into the insurance market by offering a customer experience and innovative integration of product protection for goods and services, covering for example breakdown, breakage or theft. The startup wants to offer a growth driver for e-merchants with flexible and agile solutions, guaranteed by leading insurance partners.

Committed to more responsible consumption, the company favors repair over replacement of products, an approach made possible thanks to its extensive network of repairers: “By choosing Evy, our investors confirm the relevance of our innovative model. This is the signal that our offer meets an increasingly strong demand from e-merchants wishing to offer the best shopping experience to their customers. This funding will enable us to take part in the development of the European on-board insurance market, estimated at 45 billion euros, by developing our product protection solution and continuing our recruitment efforts.”emphasizes Simon Kemoun, CEO and co-founder of Evy.

“We are delighted to partner with Simon, Shana and Tanguy, founders of Evy, to redefine product insurance in Europe. Their pan-European partnership with ManoMano testifies to the quality of their solution and the experience offered. We are excited to offer many more merchants in different categories and in different markets in the near future”say Sequoia partners Stephanie Zhan and George Robson.

Towards a development in physical shops

The startup is in the process of extending its service to traditional brick-and-mortar stores in addition to e-tailers and has already deployed in Italy, Spain and Germany, before arriving in the United Kingdom in 2023. Evy provides a solution turnkey product protection solution that is completely integrated into merchants’ sales pathways. With easy implementation thanks to configurable plug-ins in a few clicks, and support from A to Z, including with regard to claims management, Evy is a formidable effective tool.

“Our solution significantly increases the profits of merchants who adopt it and allows them to win more customers. They benefit from a first-class service that gives them peace of mind at the time of purchase. With Evy, we are also committed to a CSR approach by favoring the repair of products rather than their replacement”adds Simon Kemoun.

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