Flitter (MooveLab Program) raises 2,5M€ to tackle the French car insurance market

Flitter, aiming to revolutionize the French car insurance market, just announced a 2,5M€ seed raise with Global Founders Capital, Kima Ventures and famous business angels including Raphaël Vuillerme, founder of Luko (HEC Program Alumni), Jacques Bouthier, founder of Assu2000, Pierre-Yves Durand, former marketing director of AXA, Christophe Eberlé, founder of Optimind, and Philippe Mangematin, founder of Seyna.

Part of MooveLab Program at STATION F, the company was created in 2021 by Jérémy Steinberg, Arnaud Dumora and Hajer Gorgi. Together, they founded Flitter to help low-mileage drivers to save money on their car insurance. In France, 1 in 2 drivers covers less than 6 000 miles (10 000 kilometers) a year and overpay their car insurance as mileage isn’t taken into account in the pricing of traditional insurers. According to Flitter, the mileage-based pricing model allows low-mileage drivers to save 250€ per year on average.

“The pandemic has brought significant changes in the way we live and move – remote work is only one of them. Traditional insurers haven’t been able to respond to these changes. Today, no matter if someone drives 2 or 20 thousand miles, they will end up paying the same price for car insurance, while their risk is divided by 3. We want to offer a fairer kind of car insurance that better fits our new mobility needs and ways of living”, explains Jérémy Steinberg, Flitter’s CEO.

With this new car insurance model, the drivers pay a premium including a package of miles of their choice at subscription. Then, they submit their mileage through a simple photo. Once they run out of miles, they can top up just like a mobile phone plan.

The company is also looking to go further by integrating connected technologies at the service of its customers. “We are already able to connect Flitter to the cars of eight manufacturers to allow opted-in users to track their mileage in real-time. We will soon be offering connecting services like remote vehicle location or anti-theft alerts”, says Arnaud Dumora, Flitter’s CTO.

With this seed round, the company is aiming to develop its team with talents in technology, operations, marketing and customer support.

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