Plus Simple raises €20M from Idinvest, OneRagtime, Mundi Ventures and Speedinvest

+Simple, a Paris, France-based operator of an insurance brokerage services, announced that it secured funding in the company of €20M.

The money is a combination of debt (€5M) and equity (€15M/$17.6M) - the equity was raised from investors including Idinvest, OneRagtime, Mundi Ventures and Speedinvest. Proceeds will be used to expand in international markets.

+Simple, founded in 2015 by Eric Mignot (Chairman), Anthony Jouannau (CEO) and Salah Hamida (Deputy CEO and CTO), developed a marketplace for digital commercial insurance players in the EU market. The tool helps with product digitizing agents and brokers through the software platform, and allows them to sell their policies online. At the same time, +Simple’s platform allows agents and brokers to sell better policies. They are able to build a modular product by combining several aspects of different policies from the variety of insurance players in +Simple’s network. It’s highly personalized in a highly scalable way, two concepts that are seldomly linked together.

The company to date has 50,000 clients and works with 21 insurers including Malakoff Mederic Humanis, Generali, Allianz.