Montreal-based insurance company Emma closes its $6 million Series A round, solidifying its position as a leader in Canada’s underwriting industry
The $6 million funding round will continue to fuel Emma’s impressive growth in the Canadian market.
Led by prominent Canadian investors – Luge Capital, Investissement Québec and Tactico – the $6 million funding round will further fuel Emma’s impressive growth in the Canadian market. A year after participating in the founding cohort of Intuit Prosperity AcceleratorEmma has grown by more than 500% and now wants to help even more Canadian families get the right life insurance coverage.
In his quest to revolutionize the insurance industry, Emma will use the funds to offer his insurance products across all Canadian provinces, double the size of his current team and develop new products. Felix Deschatelets, CEO and co-founder of Emma, explains: “It’s no secret that the demand for truly modern life insurance products has skyrocketed in recent years. With experienced investors, strong partners and a talented team, we now have the means to achieve our ambition and become the most popular family insurance solution.”
Thanks to the strategic partnership with the insurance company Humania Assurance, Emma is able to set up her own insurance products. While the startup currently offers the easiest and fastest life insurance in Canada, it also aims to make it more inclusive and accessible with a range of new products. Nicolas Moskiou, Executive Vice President of Humania states, “We are proud to have supported this insurtech bringing peace of mind to thousands of young Canadian families. With innovative partnerships like this, the insurance industry can evolve.”
David Nault, General Partner at Luge Capital, highlighted the startup’s vision and proximity to its customers as key differentiators: “We love Emma’s modern approach to insurance, as do her customers. Their growth and reviews convinced us that they had something big coming up.” Excited that Canadians have a modernized solution at their disposal, Liam Cheung, founder of Tactico, adds: “The life insurance industry needed a disruption as the which have not developed inefficient processes like other financial services.”
“Investissement Québec is proud to support Emma in this round of financing that will enable the company to continue its growth. This investment reflects our commitment to help develop promising young Québec companies in all regions by facilitating their access to capital and providing them with the support they need to achieve their goals,” said Guy LeBlanc, President and CEO of Investissement Quebec.
Thanks to Emma’s innovative spirit, Canadian families can now look forward to more modern solutions to their financial security needs. If you are looking life insurancevisit emma.ca
FOR MORE INFORMATION, PLEASE CONTACT
Felix Deschatelets [email protected]
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