Feather raises €3.8m from several unicorn founders
Transferwise’s founder Taavet Hinrikus invested €3.8m into Feather alongside founders or C-level from Monzo, N26, Go-cardless as well as insurance experts involved in the building of Clark and Element. Feather is an insurtech company in Germany that has helped +30,000 customers from over 150 countries with insurance to date.
The company was founded in 2018 by Rob Schumacher, a former McKinsey consultant with a PhD in actuarial science (insurance mathematics) and Vincent Audoire, one of the first software engineers at N26, one of the biggest digital banking companies in Europe.
One thing that makes Feather stand out is that they were already profitable and had not raised a seed round despite working with a team of 20. After meeting at Entrepreneur First, Rob and Vincent took this unusual route because they thought that “money wouldn’t help them go any faster”, and launching 9 insurance products over the last four years has proved them right.
Rob Schumacher said, “Through bootstrapping, we built a really healthy business and were actually not looking for funding. We liked that we were forced to build products that customers value – fast. Taavet and Sten were immediately excited by our vision, and in the very first meeting we had we already developed some great ideas to grow the business together. We are excited to have their functional expertise in B2C fintech but also their company building experience on board”
Taavet Hinrikus said, “I was really impressed with how far the team has come without funding, and am excited to see another industry be made transparent and digital. There are many parallels to wise, and the potential is there to build an even bigger company.”
About Feather. Feather was founded in 2018 by Rob Schumacher and Vincent Audoire after both of them struggled to navigate the insurance system in Germany. That’s why Feather builds insurance to make all interactions easier and more transparent: from signing up and filing a claim to canceling. The goal is to give honest, unbiased advice, with all the information needed to make the right decision. And, because of how complicated insurance is, Feather offers tools, articles, and support where people can reach out to a human about problems or questions they have. Currently, Feather has helped people from over 150 countries get insurance digitally and is expanding quickly
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Source Popsure Deutschland GmbH