Neva Finventures leads €3m round for Yolo

Primomiglio, Banca di Piacenza, Intesa Sanpaolo Vita, Be Shaping the Future and CRIF also took part in the round.

Yolo aims to use the fresh capital to further consolidate its position in the Italian market, expand internationally – primarily in Spain – and boost its growth.

Previous funding
Primomiglio led a €1m funding round for Yolo via its Barcamber Ventures vehicle in October 2017. US-based seed investor Miro Ventures and Mansutti, an Italian insurance broker, also took part in the round. Subsequently, Primomiglio led an additional €1m funding round for the startup in 2018.

Neva Finventures and Primomiglio led a €5m series-A round for the company in January 2019.

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
Neva Finventures – Mario Costantini (CEO).
Primomiglio – Gianluca Dettori (president).
Yolo – Gianluca De Cobelli (co-founder, CEO).

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