# Lovys

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lovys

- Industry: Insurance
- Headquarters: Paris, France
- Website: www.lovys.com
- Total disclosed funding: $9.8M
- Latest round: Series A (Jul 20, 2021)
- Investors on record: 10

## About

Lovys SAS specializes in providing innovative digital insurance solutions, enabling customers to customize and manage their insurance needs conveniently online. Their offerings span various types of insurance, making coverage accessible and user-friendly.Founded in 2017, Lovys SAS is headquartered in Paris, France, and focuses on delivering digital insurance options. The company has successfully raised a total of EUR 7.115 mn in funding, culminating in a Series A round on July 20, 2021, with notable investors including Heartcore Capital and NewAlpha Asset Management. Joao De Jesus, the founder, has a history of entrepreneurial ventures, adding valuable experience to the company’s operations. Lovys has engaged in 9 investment deals to date and currently holds a company valuation of EUR 36.051 mn.Lovys offers a comprehensive range of digital insurance solutions designed to cater to diverse customer needs. Their core product offerings include home insurance, auto insurance, pet insurance, smartphone insurance, and health insurance, all of which are customizable and accessible entirely online. The company's approach allows clients to tailor their coverage by adding or removing guarantees based on their unique requirements, thus empowering customers to manage their own insurance needs effectively. Lovys primarily serves homeowners, renters, vehicle owners, and pet owners in the French market, with aspirations to expand into other European markets. By leveraging technology and strong partnerships with reputable insurance providers, Lovys aims to deliver flexible and economical insurance options, eliminating the traditional complexities associated with insurance purchases.In 2022, Lovys reported a revenue of EUR 1,631,101.50. During the same period, the company's EBITDA was EUR -4,089,395.20. Lovys generates revenue through a subscription-based model, enabling customers to pay monthly for their insurance coverage. The pricing structure is designed to offer competitive rates, with home insurance starting at EUR 3.99 per month and auto insurance available from EUR 9.00. The company's flagship product, the all-in-one insurance plan, allows clients to combine various coverages into a single subscription, simplifying the customer experience. Revenue is bolstered by a focus on customer retention, enhancing customer satisfaction and loyalty through prompt service and human-centric interactions.Looking ahead, Lovys plans to utilize its recent funding from the Series A round to strengthen partnerships with reinsurers and distributors in key markets like France, Spain, and Portugal. The company is also designing new products aimed at expanding its service offerings and enhancing customer experience. By focusing on these strategic expansions and product innovations, Lovys aims to solidify its presence in the European insurance market.

## Funding rounds

- Series A, Jul 20, 2021 — Heartcore Capital, Portugal Ventures, NewAlpha Asset Management, Bpifrance, Techstars, Plug and Play, RAISE, Ternel, Adevinta Ventures, MS&AD Ventures
- Series A, Feb 6, 2021, $8.6M — Heartcore Capital, NewAlpha Asset Management, RAISE, Ternel
- Seed, Aug 3, 2019, $1.2M — Portugal Ventures, Plug and Play, Ternel

## Investors

- Portugal Ventures (https://capitalatlas.ai/funds/portugal-ventures) — Seed, Series A
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed, Series A
- Ternel (https://capitalatlas.ai/funds/ternel) — Seed, Series A
- Heartcore Capital (https://capitalatlas.ai/funds/heartcore-capital) — Series A
- NewAlpha Asset Management (https://capitalatlas.ai/funds/newalpha-asset-management) — Series A
- RAISE (https://capitalatlas.ai/funds/raise) — Series A
- Bpifrance — Series A
- Techstars (https://capitalatlas.ai/funds/techstars) — Series A
- Adevinta Ventures (https://capitalatlas.ai/funds/adevinta-ventures) — Series A
- MS&AD Ventures (https://capitalatlas.ai/funds/ms-ad-ventures) — Series A