Cachet, Tallinn, Estonia-based insurtech company that provides solutions for the platform economy workforce, raised €5.5M in funding.
TheRound was led by Truffle CapitalParticipation from Uniqa Ventures, Icebreaker.vc. Truffle CapitalAnd IcebreakerRepresentatives of.vc will be joining Cachet’s supervisory board.
TheCompany plans to use the funds to expand its team, improve its technology, and to expand within. Europe.
Founded in2018 by Hedi MardisooAnd Kalle Palling, CachetThis platform worker-focused marketplace offers insurance services to platform workers. It will be used by 1 out 5 economically active citizens. inThe EU by 2025
TheCompany already offers motor insurance to ride-hailing drivers and regular consumers. Delivery rider insurance covers personal injury, property damage, and medical expenses. TheNew insurance plans will offer third-party liability coverage, as well as personal and accident coverage for gig workers.
CachetWe will also offer data-driven fleet insurance models inThe BalticsCEE region to improve the risk management of commercial car fleets and micro-mobility fleets used for delivery and app-taxi services. This reduces insurance costs for both workers as well as fleet managers.
TheMore than 12 insurance underwriters are already served by the company with top carriers such as Allianz, PZU, and VIG Group. CachetCurrently, has an insurance distribution licence in most EU countries. in Estonia, Latvia, PolandWhile also serving customers inThe UK Lithuania, Finland. InAdditional to BoltAnd UberIt also works well with platforms like Upsteam, CitybeeAnd Cleanify.