Investors became more skittish due to rising interest rates and economic uncertainty.
In 2021, when money flowed freely above French start-ups, online insurer Luko did not take advantage. The young shoot created in 2018 and specializing in 100% online home insurance had already raised 50 million in December 2020 (and 70 million since its creation). In addition, it was then preparing the acquisition of its German competitor Coya, holder of an insurance license. An operation finally announced at the end of January 2022 and partly financed by securities exchanges. Previously, Luko acted as a broker, like the majority of insurance start-ups (insurtech).
When, at the end of the spring, Luko, which claims 500,000 policyholders (including 85% in France, then in Germany and Spain), decided to raise funds to finance its development, the market was in the process of turning . Month after month, investors became more skittish due to rising interest rates and economic uncertainty. After supporting for…
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