Rotterdam-based Alicia, an insurance-as-a-service provider for freelancers, announced on Thursday, December 15, that it has raised €7M in a Seed round of funding.
The investment comes from various strategic partners, including Volta Ventures, Randstad Innovation Fund, and Achmea Innovation Fund.
Alicia CEO and co-founder, Marijn Moerman, says, “We are proud of this fine group of investors who, in the current investment climate, support us in realising our ambition: to have 1 million freelancers insured by the end of next year.”
“Making insurance work for everyone”
Founded in 2019 and led by CEO Marijn Moerman, Alicia believes that creating good and appropriate insurance plans for all independent contractors will help stop the rise in the number of under- or uninsured freelancers.
Marijn Moerman says, “People want to work in a different way than they did 30 years ago. Self-employed work is normal in 2022. Still, many self-employed people are working underinsured, because insurance is typically complex and expensive, and doesn’t fit the needs and wants of independent workers. We believe that embedded insurance makes insurance accessible. For a relatively low premium per hour, it’s possible to create sustainable independent work and solve the social problem of uninsured freelancers.”
Alicia provides solutions for customised insurance offered on digital platforms used by independents, such as the Dutch Knab bank app or hiring agency HeadFirst Group. In other words, whether people organise their funds in a banking app or they take a freelancing job, the company provides the ‘most’ suitable insurance package to them.
In a statement, Alicia mentions that it has already added 20 new partners to its technology platform in recent months and is growing rapidly.
Through their partnership with Roamler, work platforms in Europe get to have access to a collective plug-and-play insurance solution. This partnership is in keeping with Alicia’s ambitions to expand internationally. In addition to the Netherlands, the insurance solution is also offered in Belgium, France, Germany, Spain, and the UK.
Alicia also claims that it will have 100,000 insured independent contractors before the end of this year.
Capital utilisation
Alicia says that the raised funds will support its mission “to combat the underinsurance of freelancers” as well as help accelerate its expansion in Europe.
Moerman says, “In addition to adding value through growth capital and strategic expertise, we were also looking for a personal connection and a shared vision of Alicia’s future. With the funding, Alicia will roll out the embedded insurance solutions in various European countries in 2023, expand the product portfolio and continue to steadily develop our tech platform, which is the basis of Alicia’s success.”
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