Berlin based insurtech startup Simplesurance has secured €30m in venture funding led by Japan's Rakuten. Simplesurance provides software that lets online shops offer insurance at the checkout for whatever products people are buying.
CEO and founder Robin von Hein told Business Insider that Simplesurance planned to raise even more money later this year. He said the latest round of funding would be used to invest in Simplesurance's product: "The money is for two things: one is for our competitive position as the leading provider of cross-selling insurance solutions across Europe, and, as well, to expand our digital consumer-broker channels." von Hein told BI: "We give every e-commerce shop a plugin for cross-selling an insurance product. You have cross-selling in the offline world when you walk into like a Best Buy and you buy a washing machine. The offline store offers you a warranty extension and coverage plan. We're doing this kind of cross-selling in the e-commerce world."