Paris-based Dalma, a pet insurance provider, announced that it has secured €20M in a Series B funding round led by Breega.
Breega supports innovative founders, helping them turn ideas into impactful businesses.
Since closing our first fund in 2015, we now manage $700M and have invested in over 100 companies, including Exotec (robotics), Moneybox (fintech), Alice & Bob (quantum), and 011H (climate technology).
“Dalma is capturing a unique market timing and dynamics, combining a societal wave in favor of animal welfare with inflationary pressure in the broader veterinary sector. Their natural response: an insurance and prevention product for pets, which has already convinced nearly 60,000 owners. Breega is very happy to join this adventure alongside Alban and Raphaël,” says Benjamin Deplus, Partner at Breega.
This round is also supported by its existing investors, Northzone and Anterra Capital, alongside Bpifrance’s Digital Venture 3 fund and Breega.
Fund utilisation
With this new funding round, the French company is planning to broaden its offering to become the go-to well-being partner for pet parents.
Talking about challenges faced while expasion to Silicon Canals, Alban de Préville, co-founder of Dalma says, “First, we needs to develop an insurance product that aligns closely with local market expectations. Additionally, maintaining a strong company culture and ensuring alignment among teams across different regions is crucial. Lastly, attracting top talent in markets where brand awareness is limited presents another significant hurdle.”
The company is also planning to bring new features, including the introduction of a direct payment system for policyholders and the launch of an e-shop featuring a curated selection of top health and wellness products for pets.
Dalma: Faster insurance experience
Dalma was founded in 2021 by Alban de Préville, Raphaël Sadaka, and Harry Belinga.
The company offers insurance in just two clicks, where customers can customise their coverage.
“We offer a comprehensive pet care ecosystem where pet owners can connect directly with veterinarians through the Dalma app, available 24/7 via chat and video for advice on health, education, and well-being. Furthermore, our innovative distribution model utilizes a B2B2C approach that leverages a network of pet well-being experts and major players in the pet industry,” says Alban de Préville.
Through its app, veterinary expenses are reimbursed at lightning speed.
Besides insurance coverage, the French company also allows pet parents to connect 24/7 with veterinarians via chat and video calls, while also providing educational programs designed in collaboration with animal welfare experts.
700% growth
Since its Series A funding round, the company has witnessed 700 per cent growth and achived profitability already in France.
“Our great growth is driven by our ability to unlock new distribution channels, primarily B2B2C, which remain largely underutilised by our competitors. This has allowed us to acquire a significant number of new customers with very great efficiency. Additionally, we deliver one of the best customer experiences in the industry, leading to strong word-of-mouth and high levels of organic growth. Lastly, our exceptionally high retention rates have also played a key role in sustaining our growth trajectory,” adds Alban.
With an intuitive app, unlimited free veterinary advice, and contracts with no hidden fees, Dalma simplifies life for pet parents in France and Germany.
Over 60,000 pets are already protected, reflecting a rapidly growing community.
“We made the bold decision to eliminate certain parameters we found unfair to customers, such as deductibles. We were the first in France to do so when we launched in 2021. Additionally, our list of exclusions is clearly stated in our coverage details and throughout the subscription journey to prevent confusion and dissatisfaction — both of which can be costly for an insurer like us,” concludes Alban.
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