Luko wants to grow faster despite the crisis, and is preparing for it
Neo-home insurance “number one in France” is asserting its resilience, with half a million customers in its sights.
< p>In an interview with the trade magazine Business Insider, the founder of Luko, a key figure in French Insurtech, spoke about the challenges currently faced by his company. We learn that the company, which specializes in digital home insurance, has been able to cope with the inflation that is also affecting the digital sector by doubling down on revenue generation and growth. 8217; cost optimization. Several major funds support the firm, such as Kima Ventures (Xavier Niel, Jean de La Rochebrochard), Accel or Founders Fund.
For Luko, no Series C fundraisingfor now: it was planned to raise a hundred million dollars to grow the business faster, but it will have to be done without. Blame it on a lull in investment in the field according to Raphaël Vullierme, CEO. Previously, the manager had tried to perpetuate OpenJet, an on-demand aircraft booking platform. We also owe him a remarkable stint at Rocket Internet (Foodora, Take Eat Easy).
Place for consolidation
The last fundraising dates from the end of 2020, so it is now time for Luko to validate the achievements by developing its model carefully. For Raphaël Vullierme, it is now a question of focusing on the historical French and German markets. Expansion to other European states is also on hold, while spending on innovation is already reduced. To cope with the tense economic context, key internal projects such as the launch of a search engine or water leak detectors are also on the sidelines.
Today, Luko can still boast of having no less than four hundred thousand customers, according to his own words. The forecast is for 25% more by the end of the year. We are in November: the deadline is ambitious, but displayed. By way of comparison, Alan (health insurance) claims three hundred thousand customers in Europe with growth of 86% in 2021.
To the moon
Concluding the interview with our colleagues at Business Insider, Raphaël Vullierme assures that he is preparing an announcement whose content will make it possible to scale up “more quickly“. All very soon. Until then, users can still get a refund “twice as fast” than the competition and answers in less than two minutes from their mobile app. To access their member area, customers can also connect from a web version.