After Koya in Germany, Luco acquired Uncle, a specialist in unpaid rent insurance in France.

New European insurance company Luko has acquired Unkle, the first startup in the unpaid rent market.

The business, just two months after Luko acquired Germany’s InsurTech Coya, and three years after its launch in 2018, is Europe’s No. 1 with more than 300,000 policyholders. Strengthen your position. Through this partnership, the two companies will accelerate development and provide new services to customers and partners.

Uncle acts as a guarantor to help the tenant integrate his case and help him find a home. Startups also help landlords choose tenants with confidence with the first digital unpaid rent insurance on the market. With this new acquisition, Luko is accelerating development in the insurance and home services sector.

Luko continues to develop home services with the acquisition of Unkle.

This merger meets the two ambitions of the Luko Group.

  • Integrate new insurance offers and enhance the ecosystem of services to help customers access their homes and manage real estate rentals
  • Accelerate Luko’s growth by developing new distribution channels through real estate sector experts

Unkle’s rental warranty solution joins the Luko ecosystem, which helps French people find a home (Luko Immo) and raise funds including home insurance, home maintenance and repair services (borrower insurance).

Luco’s know-how that helped develop the ankle

Thanks to this merger, Unkle is accelerating development, targeting 100,000 customers and more than 3,500 partner agencies by 2023. At the same time, insurers will be able to rely on Luko’s know-how as a regulated insurer to integrate risk. bearing. Unkle will be the complete business unit of the Luko Group and will continue to be managed by the two co-founders Matthieu Luneau and Cédric Baulme. Unkle also maintains a brand that is already widely recognized in the rental guarantee market. To support this growth, Unkle will hire about 50 people in 2022 to join its current 30 employees.

Unkle will now offer all Luko offers (home insurance, borrowers, etc.) that are already in high demand from customers. The contract and claim management platform that led Luko to success will be introduced to Unkle to fulfill the insurer’s flagship promise. “. Two start-ups are taking a similar approach to insurance. Matching the interests of insurers and insureds by providing more services and transparency in markets that are often opaque.

Rental Guarantee, Promising Market

Unkle has established itself in the rental guarantee market since its inception in 2019. This market is currently growing at € 2 billion in France.

The startup has grown strongly (10 times since 2020) and currently has more than 20,000 customers. At the same time, Unkle has developed a network of more than 800 partner real estate companies and created a SaaS platform dedicated to real estate professionals.

The startup completed a € 10 million round of funding in January 2022, rocking the unpaid rent insurance market. Landlords can now get direct insurance in minutes, and agencies are easier to manage thanks to the platform developed by Unkle.

Unkle aims to be Europe’s leading player in home services

Matthieu Luneau, CEO and co-founder of Unkle, said: Combining Luko’s ability to grow very rapidly, its position as a regulated insurance company, and its ethical and transparent approach to insurance, we are convinced that we will take part in the adventure. By participating in them, you can grow faster and transform the real estate world by providing complementary services to your clients. “

Raphaël Vullierme, CEO and co-founder of Luko, said: Luko integrates Unkle into the ecosystem and provides all the keys to accelerating growth. After acquiring the German competitor (Coya) in January, this new step will allow us to continue to integrate the market and strengthen our leadership in Europe. “