Berlin-based cross-selling insurance platform simplesurance has raised a €15 million convertible loan from Allianz X, the ‘€1 billion digital investment unit of the Allianz Group’ and a previous investor in the insurtech startup.

Backed by the likes of Rakuten, simplesurance had raised roughly $60 million in financing before this transaction, according to Crunchbase.

The company describes itself as ‘an e-commerce provider for product insurances’ – basically it offers online sellers to offer their customers a quick and convenient way to purchase product insurances, up to a couple of months after they have purchased something. It also offers a digital broker solution, enabling consumers to manage their insurance policies digitally with the help of a multi-device app.

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