Digital insurance platform Insify has raised €16.3 million in series B funding to accelerate its expansion across Europe. The round was led by Evli Growth Partners, with continued backing from Accel, Opera Tech Ventures, Munich Re Ventures, Visionaries Club and Frontline Ventures.
According to the company, the fresh capital will be used to launch new AI-powered insurance products, expand Insify’s platform, and support growth across its current markets of the Netherlands, France and Germany. Founded in 2020, Amsterdam-based Insify was built to meet the specific needs of self-employed workers and SMEs, who often face difficulties accessing affordable and tailored coverage. While more than 28 million freelancers and entrepreneurs operate across Europe, traditional insurance offerings are frequently designed for larger corporates, leaving smaller businesses underserved.
Insify aims to fill this gap with policies that can be purchased in minutes online, supported by data-driven underwriting and AI-enabled claims processes. Coverage is designed to adapt as a business grows, providing what the company described as “smart, simple, and fair” insurance, with real-time onboarding and simplified claims handling supported by human interaction.
Koen Thijssen, founder and CEO of Insify, said the latest investment is about strengthening protection for a vital part of Europe’s economy. He noted that freelancers and SMEs need products designed around their bespoke risks rather than one-size-fits-all solutions, and positioned Insify as a platform focused on helping them move forward with confidence.
From the investor perspective, Miko Kuitunen, partner at Evli Growth Partners, highlighted the company’s ability to deliver fast, personalised and transparent cover as a differentiator in SME insurance, adding that the team has demonstrated pace and rigor in execution.
Insify’s fundraising underscores the growing interest in insurtechs targeting the SME and freelancer segment, which has historically been underserved by traditional carriers.
With economic uncertainty, inflationary pressures, and limited public safety nets, demand for accessible protection tailored to the realities of self-employed work is increasing.
At the same time, insurers across Europe are investing heavily in digitisation to improve customer experience, reduce friction in claims, and cut costs. Start-ups like Insify are positioning themselves as more agile alternatives, using data and technology to bridge gaps in coverage and speed of service.
The insurer has already reported rapid growth, more than tripling its gross written premiums since its Series A extension. With its Series B capital, Insify is expected to scale further, adding products and enhancing its AI-driven tools, as competition in the European SME insurance market continues to intensify.
