VC firms back €10m seed round for Coya

Angel investors Mato Peric, Rolf Schrömigens, Elvir Omerbegovic, Marco Knauf, Sebastian Diemer and Alexander Grabner-Müller also invested in the round.

Coya simultaneously filed an application with German financial regulator BaFin to become a fully licensed and regulated insurance carrier. The company plans to launch in 2018, following approval.

Investors were attracted to Coya's product and team, which consists of former Kreditech, Allianz and Zenmate employees.

The company claims that with a volume of €10m it has raised one of Germany's largest ever seed rounds. This claim is supported by unquote" data, which shows only one larger, a €12.78m round for Revotar Biopharmaceuticals in 2000.

Company
Founded by Andrew Shaw, Peter Hagen and Sebastian Villarroel, Coya is a digital insurance company based in Berlin. It plans to launch its digital insurance products in 2018 after BaFin approval has been obtained. The company employs 30 people.

People
Valar Ventures – James Fitzgerald (partner).
E.Ventures – Christian Miele (partner).
Coya – Peter Hagen (founder).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Early-stage
• DACH
• Financials
• Germany
• Venture
• Fintech