Leveraging their experience from working in insurance companies, Calingo’s founders Anina Lutz, Daniel Litscher, Marlo Hug and Walter Rasa, developed a digital B2B2C business model which integrates insurance products into the point-of-sale of sales partners allowing end-customers to obtain personalised insurance. Alongside its private liability and household insurance, Calingo also offers insurance products for pets, filling the gap in an underdeveloped pet insurance market in Switzerland. Less than 10% of pets are insured and many pet owners are unaware of available insurance options. Moreover, existing offerings often do not meet customer satisfaction, which provides Calingo the with opportunity to provide better, more transparent products. The Calingo Pet product covers costs related to illness, accidents, and preventive care, with no age limits for pets.
The startup has today announced the closing of its pre-series A investment round, raising CHF 3.2 million. Swiss VC emma Ventures led the round with participation from Zürcher Kantonalbank, StartAngels, and existing investors. The secured capital will be utilized to scale operations and expand the company’s reach within the Swiss market, ensuring pet owners receive high-end insurance services.
Anina Lutz, CEO of Calingo Insurance, said: "We are incredibly grateful to our investors for their trust in our team and support in our mission. We are excited about the opportunities this funding creates for expanding our reach and enhancing our services."
Katja Baur, Co-Founder and Managing Partner of emma Ventures, added: "We are very excited to join Calingo Insurance's excellent founder team on their journey. Their high-quality product is unique and serves the fast-growing demand for pet health insurance in an underserved market."
(Press release/RAN)