Montreal Insurtech Emma raises $6 million Series A Round led by Luge Capital, Investissement Québec, and Tactico.
Emma is the first Canadian platform to offer a fully online solution for buying life insurance. The financing round will further enhance Emma’s impressive growth in the Canadian market.
In its push to disrupt the insurance industry, Emma will use the funds to provide its insurance products in all Canadian provinces, double the size of its current team, and build new products.
A year after taking part in the inaugural cohort of Intuit Prosperity Accelerator, Emma has grown by more than 500% and is now looking to help even more Canadian families get the right life insurance coverage.
Felix Deschatelets, Emma’s CEO and co-founder, explains that “it’s no secret that the demand for truly modern life insurance products has skyrocketed in the past years. With seasoned investors, strong partners, and a talented team, we now have the means to fulfill our ambitions and become families’ most loved insurance solution.”
Thanks to its strategic partnership with the insurance company Humania Assurance, Emma is able to build its own insurance products. While the startup currently offers the simplest and fastest life insurance in Canada, it also aims at bringing more inclusivity and accessibility with a series of new products.
Nicolas Moskiou, Humania’s Executive Vice-President, expresses: “We are proud to have supported this insurtech, which offers peace of mind to thousands of young Canadian families. It is with innovative partnerships like this one that the insurance industry can evolve.”
Luge Capital General Partner, David Nault, highlighted the startup’s vision and proximity with its clients as its key differentiators: “We love Emma’s modern approach to insurance and so do their customers. Their growth and reviews convinced us that they are onto something big.”