Primomiglio leads €1m seed round for Yolo

Primomiglio led the funding round, which also included US-based seed investor Miro Ventures, and Mansutti, an Italian insurance broker.

According to a statement, the company aims to use the fresh capital to further develop its proprietary software. Furthermore, the business expects to raise a further €5m within the next 12 months and will expand across Europe.

Company
Established in 2017 and based in Milan, Yolo develops a mobile app that offers temporary insurance packages from larger insurance companies, based on a pay-per-use system. The business mainly focuses on the travel segment, as well as life, healthcare and goods insurance products.

People
Primomiglio – Antonio Concolino (CEO).
Yolo – Gianluca de Cobelli (co-founder); Simone Rancucci Brandimarte (CEO).

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• Topics
• Early-stage
• Technology
• Southern Europe
• Venture
• Italy