CBien pockets €8m from insurers to expand internationally

Paris-based InsurTech startup CBien has raised €8m in a new round from existing backers MAIF, MACIF and 5M Ventures.

The company is a graduate of global tech accelerator Startupbootcamp and allows users to build a digital inventory of their personal belongings and estimate the value of them.

CBien intends this free service to enable users to manage these personal assets throughout their lifetime and facilitate selling, sharing or renting them.

The company now aims to added its insurance offering to the platform to allow users to insure their items on demand and manage claims.

The startup is partnered with three major French insurers MAIF, MACIF and Matmut.

MAIF deputy general manager of insurance operations and customer relationships Christine Mathe-Cathala commented: “The strength of our partnership with CBien and the acceleration of their project are both for the benefit of our members and shareholders because this allows us to bring new services in our relationship with them.

“The experience and the speed of processing or evaluating goods is thus improved. This mutual trust between MAIF and CBien illustrates the type of hybridization we want to implement with our start-up partners.”

The company will use the new capital to further develop its asset referencing and management technology as well as fuel its international expansion.

It previously picked up $1.6m in a seed round from insurers in September 2015.

This article first appeared on FinTech.Global. For more deal news as well as in-depth expert perspectives, articles, data and analysis please visit www.fintech.global

Copyright © 2017 FINTECH GLOBAL