Acheel in a €29 million investment deal backed by Serena, NJJ and Portag3 Ventures.

Acheel, a Paris, France-based startup building a digital platform for selling non-life insurance products, announced the completion of a funding round totalling €29 million ($34.5M).

The money was raised from French investors, including NJJ (Xavier Niel's holding company), Serena and Portag3 Ventures.

Proceds will be used for launching the business, and finalise the licence approval, as the equity capital will constitute a risk hedger for getting the ok for selling insurance in France.

Acheel, founded in 2020 by CEO Ralph Ruimy and Francky Défossé, aims to build an digital operation selling non-life insuring products. The company is still waiting to get its approval from the French authorities, estimated for the spring 2021.

In the meantime, the company solidified its board, by having Jean de La Rochebrochard, the manager of Kima Ventures, join Laurent Rousseau, Roger Caniard, Anne Marie Cozien, Philippe Bonin, Philippe Foulquier and Raphaël Rimelin.