Italian insurtech Yolo gets EUR 5 mln with Intesa Sanpaolo backing

The round was led by Intesa Sanpaolo’s investment arm, Neva Finventures, and Barcamper Ventures (Primomiglio SGR). Other participating investors in the round were Net Insurance and Miro Ventures.

The company aims to use this funding to accelerate the development of its insurtech platform, establish itself on the Italian market and launch its international development plan, as well as potential M&A operations.

Yolo is a digital insurance services and brokerage group that offers on demand policies that enable customers to access a new digital bancassurance model, as well as ad hoc solutions.

The app allows instant and pay per use products on a daily or monthly basis – from travel and flight insurance through to protection for smartphones and sports insurance.

The new funding round follows on from the two previous rounds in 2017 and 2018 worth almost EUR 2 million.