Luko raises €20M to ramp up its home insurance in Europe

Luko (STATION F alum, formerly in the HEC Program) is building the new-generation home insurance in Europe.

Home insurance startup Luko just raised a €20M Series A round led by Accel. Participants in this round also include the reputable Founders Fund and Speedinvest.


In similar fashion to Alan, Payfit, OVRSEA and other, Luko is part of a new generation of startups building platforms with 5-star service and incredible user-centric design. Luko promises claim reimbursement within 2 hours and damage repair by an expert within 2 days. In France, home insurance is mandatory even for renters but the process to get home insurance is complex and can involve multiple exchanges, both online and offline, with traditional legacy companies. With Luko, users are able to sign up on their streamlined platform and get insured with 2 minutes. 

Yes, 2 seems to be their magic number, and this agility is what allows them to take on legacy insurance companies despite being much smaller. Founded in France in 2017, Luko counts over 20,000 clients. Their new fundraising round will allow them to ramp up their activity across Europe, where home insurance represents a €100 billion industry.

Luko is not simply looking to offer traditional insurance coverage through digital means like many other neo-insurance companies are doing; but the startup is also looking to reinvent insurance at large, to create a new product category that goes way beyond coverage. Luko is in fact developing a proprietary home protection technology, so it can reinvent homecare and move insurance from a post-incident, claims-based model, to avoiding home accidents to begin with. The technology will monitor a home’s front door, water supply pipe and electric meter, and machine learning will analyse this data to help prevent floods, fires and burglary.


Home Insurance with Impact at Heart

Luko is a B-Corp certified company. In their business model, the company charges users a flat fee – which is used to cover claims management, reimbursement, and operational costs. Luko donates any unused money to charities chosen by its customers through its Giveback programme. As part of today’s Series A round, investors have signed Luko’s social and environmental impact mission to accept that Luko won’t trade its impact-driven mission for growth.