Paris-based Orus, a company on a mission to reinvent professional insurance for small entrepreneurs and self-employed people, announced on Tuesday that it has secured €11M in a Series A round of funding.
The development comes one year after the French company announced its first funding round and launched its first insurance product.
The investment was led by European funds Notion Capital and VR Ventures/Redstone, with participation from previous investors Frst, Partech, and Portage.
The round also includes support from senior business angels in the insurance industry, including Thierry Daucourt (Axa), Grégoire Rastoul (Leocare), and Albert Malagarriga Fandos (Elma).
Tailored insurance coverage to SMBs
Founded in 2021 by Côme Dartiguenave, Tom Le Bras, and Samuel Rossille, Orus offers personalised online insurance products. Its services encompass general liability, business owners’ policy, decennial liability insurance, workers’ compensation, and health insurance.
Orus is dedicated to providing tailored insurance solutions to both businesses and individuals through user-friendly online platforms.
The company claims to make a swift impact in the professional insurance market by introducing its initial product for restaurant owners in June 2022. The product received positive feedback from its target audience, prompting Orus to expand its offerings to include freelancers, retailers, and small to medium-sized businesses (SMBs).
Currently, the company provides customised insurance policies tailored for a wide range of professions, serving thousands of clients.
Capital utilisation
With 25 employees, Orus aims to double its workforce in the upcoming year. The company is actively recruiting tech, data, and insurance professionals to facilitate the launch of new products, enhance the subscription experience, and assist professionals in risk prevention.
The startup also plans to expand its services by introducing decennial insurance, self-employed health insurance, and workers’ compensation.
This strategic move aims to offer a comprehensive range of products, fulfilling all aspects of policyholders’ insurance needs. Orus is focused on providing extensive support to its customers through its diverse and inclusive insurance offerings.
Côme Dartiguenave says, “We are extremely proud to announce this funding round with Notion, VR Ventures/Redstone, with the participation of Partech, Frst, and Portage. It is a great sign of trust in our execution and in our vision to better protect SMBs.”
“This funding round will allow us to expand our team with industry experts, to continue to develop our product, and to empower our distribution channels to build a European leader.”
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