EVY raises €6.5 million from Sequoia and business angels

Evy, who claims the role of an on-board and eco-responsible insurance broker, announces that he has raised €6.5 million in funds, notably from the American fund Sequoia, and from business angels.

Launched in 2022 by Simon Kemoun, Shana Azria and Tanguy Le Stradic, Evy is positioned as an eco-responsible on-board insurance broker; it intends to revolutionize the world of product protection for merchants and e-merchants operating in Europe by offering innovative customer journey solutions.

Insurtech, which already has around ten customers, aims to become the insurance champion for all categories of products and services for online and in-store sales channels.

While in the USA, a new generation of product insurers has emerged, the European market remains timid. Thus, few merchants offer protection offers. The best known among them are Darty, Fnac and mobile telephone distributors. Among the 100 largest French e-merchants likely to sell product protection plans, 75% do not take advantage of this opportunity to date.

Evy, a new generation insurance broker, is bringing new life to this market by offering a customer experience and an innovative integration of product protection for goods and services, covering for example breakdown, breakage or theft. The start-up wishes to offer a growth driver for merchants and e-merchants with flexible and agile solutions, guaranteed by leading insurance partners. Committed to more responsible consumption, the company gives priority to repairing products rather than replacing them, an approach made possible thanks to its extensive network of repairers.

For Simon Kemoun, CEO and co-founder of Evy, “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 merchants and 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.

And Stephanie Zhan and George Robson, partners of Sequoia, added: “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 look forward to seeing Evy seduce many other retailers in France and Europe in the near future. »

The start-up is in the process of extending its service to traditional physical businesses in addition to e-tailers, and has already deployed in Italy, Spain, and Germany, before arriving in the United Kingdom scheduled for 2023.

An integrated protection solution

EVY provides a turnkey product protection solution that is fully integrated into merchants’ sales journeys. With easy implementation thanks to plug-ins that can be configured in a few clicks, and support from A to Z, including with regard to claims management, EVY is a formidable effective tool.

Our solution is a considerable growth driver for merchants who adopt it and customer loyalty. 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, by developing additional services such as buyback, recycling or reconditioning..” adds Simon Kemoun.

For Cédric Torossian, Head of services/new business & partnerships ManoMano: “Evy enabled us to integrate a complete insurance offer in record time thanks to a real understanding of our challenges and operational agility”.

In less than 4 months, Evy has in fact rolled out more than 25 tailor-made insurance programs for ManoMano in as many categories in 4 European countries.

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