Berlin-based insurtech startup INZMO has closed a €3.1 million seed round led by Change Ventures. Swiss insurance company Helvetia, an existing backer from the pre-seed round in 2018, also participated.

Founded in 2015, INZMO is an end-to-end digital insurance platform. Users can buy or change policies and submit claims via the smartphone app. Meanwhile the software doubles as a back-office solution for insurers.

The German insurtech startup plans to be the country’s first to launch a fully digital rental deposit guarantee service, targeting the lucrative rental market. Rather than pay a hefty deposit upfront, INZMO customers will pay an affordable monthly fee starting from €3.50. Backed by Société Générale, the product will roll out soon for new and existing rental contracts.

Beyond such household insurance products, the fresh funding, which brings the total amount raised to €5.2 million, will be used to double the team and focus on new business.

Photo by Jake Farra: INZMO co-founders Meeri Rebane and Risto Klausen

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