+Simple in a €90M growth financing round led by KKR.

+Simple, a Paris, France-based operator of an insurance brokerage services, announced closing a growth funding round at €90M ($99M).

The money was raised from investors led by KKR’s Next Generation Technology Growth Fund II and with participation from +Simple’s founders, Tikehau Capital and existing investors Eurazeo and Speedinvest.

The proceeds will be used to finance the acquisition of three European companies - Alians in France, Carl Rieck Assecuradeur in Germany, and Marintec, an underwriting agency in Italy.

The acquisitions strengthen +Simple’s distribution networks in specialist end-markets, particularly in the medical sector and among small businesses:

Alians, founded in 1980, is a French insurance brokerage and consulting firm specializing in business risks in non-conventional medicine. The company had a turnover of nearly €2.5 million in 2021 and is experiencing growth of nearly 10%.

Carl Rieck Assecuradeur, founded in 1982, is a German underwriting agency specializing in self-employed professionals and small businesses. The company had a turnover of more than €6 million in 2021 and works with more than 2,000 German brokers.

Marintec, founded in 2000, is one of the few Italian brokers specializing in medical risks that has a network of over 100 distributors. Marintec had a turnover of €1.5 million in 2021 and is experiencing double-digit growth.

+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’s revenues grew by 100% in 2021 following the acquisition of four business: April Entreprise Est, Aleade and S4Y in 2020 and Crealinks in 2019, and the business now has nearly 100,000 customers covering 500 trades across France, Germany and Italy.   

+Simple previously raised €20M in debt and equity back in 2020.