Berlin-based insurtech startup Feather has garnered the support of serval unicorn founders including wise founder Taavet Hinrikus to the tune of €3.8 million. Additional participants in the raise included founders or C-level execs at Monzo, N26, Go-cardless, and insurance experts that have aided in the assemblage of Clark and Element.
Founded in 2018 by former McKinsey consultant and recipient of a Ph.D. in actuary science Rob Schumacher (unconfirmed reports indicate that Rob is of no relation to those other Schumachers who have tested the limits of insurance companies regularly), and serial entrepreneur and developer Vincent Audoire, Feather offers, ‘Honest, simple insurance’ and taps into a common problem in the European startup hub with, ‘No German? No problem. We provide an easy way to manage your policies—all in English.’
Clearly this expat focus has touched a nerve, and speaking from personal experience in Austria, well deserved. The company reports already being profitable and operating with a team of 20, all without the need for a seed round, raising a mere €100,000 offered up by Entrepreneur First.
Feather counts having assisted over 30,000 customers from some 150 countries worldwide to date.
“Through bootstrapping, we built a really healthy business and were actually not looking for funding. We liked that we were forced to build products that customers value – fast. Taavet and Sten were immediately excited by our vision, and in the very first meeting we had we already developed some great ideas to grow the business together,” commented Dr. Schumacher. “We are excited to have their functional expertise in B2C fintech but also their company building experience on board”
On the investment, Hinrikus commented, “I was really impressed with how far the team has come without funding, and am excited to see another industry be made transparent and digital. There are many parallels to wise, and the potential is there to build an even bigger company.”