Uncle, the first young shooter in the unpaid rent market, is in the pocket of new insurance Luco. An external growth business two months after Luko acquired Germany’s InsurTech Coya. Three years after its launch in 2018, it has more than 300,000 policyholders and is strengthening its position as number one in Europe.
This partnership gives the two companies the opportunity to accelerate development and offer new services to their customers and partners.
This allows Uncle to ensure that the tenant integrates his case and helps 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.
As a result of this merger, Lucco responds to two ambitions: It will consolidate new insurance offerings and enhance the ecosystem of services to enable customers to access 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).
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. We will now offer all Luko offers (home insurance, borrowers, etc.) that are already in high demand from our customers. The contract and claim management platform that led Luko to success will be introduced to Unkle to fulfill the insurer’s flagship promise. “Insurance in 2 minutes, refunds twice as fast, and if a complaint occurs, the craftsman will be at home in 2 days.”.. 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 turn out to be opaque.
Unkle has established itself in the rental guarantee market since its inception in 2019. This market is currently growing at € 2 billion in France.
Young shoots claim strong growth (10 times from 2020) and currently have 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. According to Unkle CEO and co-founder Matthieu Luneau: “Luko’s goal is to become Europe’s leading player in housing services, in line with its original mission of simplifying access to housing. Luko’s ability to grow very rapidly, a regulated insurer Combining our position as, and an ethical and transparent approach to insurance, we are convinced that we will participate in the adventure. By participating in them, we will provide complementary services to our clients. So you can grow faster and transform the world of real estate. ” The final word is sent to Raphaël Vullierme, CEO and co-founder of Luko. “Unkle has demonstrated its business model and ability to establish a position in a complex yet promising market. Luko has all the keys to integrating Unkle into its ecosystem and 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. ”