Dalma, the insurance company for dogs and cats, is bringing Northzone into its capital

One year and already two collections. Dalma, insurance for dogs and cats, has just completed a new financing round of 15 million euros led by the Swedish Northzone together with the German Project A and Anterra Capital, a Dutch venture capital fund specializing in animal health.

Historical investors Global Founders Capital, Frst and Kima Ventures are back in the pool. This is Northzone’s third investment in France, after video game publisher Homa Games and Stonly, software that makes it possible to create interactive guides. The Swede has invested in more than 150 start-ups including big names like Spotify, Klarna and Trustpilot.

This participation of Northzone is not so surprising, as in Sweden 91% of dogs and 56% of cats are insured. “They have understood that the phenomenon is happening in France because veterinary costs are rising,” explains Alban de Préville. It takes at least 30 euros for the consultation, 80 euros for a vaccine and up to more than 1,000 euros for a major operation …

Veterinarians, the best prescribing doctors

Dalma offers full online insurance, which it says is between 5 and 10% cheaper than its traditional and well-established competitors, SantéVet and Assur O’Poil (12.99 to 22.99 euros, without deductible). Like any self-respecting insurtech, it allows you to be refunded very quickly – between 24 and 48 hours. Another specificity: the ability to chat via instant messaging with a veterinarian.

Dalma is an insurance broker and works with the insurance company Seyna and the insurance company Wakam. “Our priority is to be strong in distribution, community and branding. Becoming an insurer is not in our roadmap,” says the manager. In one year, Dalma attracted 20,000 customers (6 million annual premiums) who came from social networks, comparators and digital advertising. To reduce the purchase price, which amounts to 100 euros, it will go through veterinarians. “They are the best prescribing doctors,” says Alban de Préville.

Dalma would also like to pamper veterinarians a little more and is getting ready to launch a third-party payment system. Instead of offsetting the cost, the customer takes a picture of the invoice to load it into his Dalma application. The start-up pays the amount to the vet in a few hours.

A little e-commerce

Assurtech does not want to become a software provider for veterinarians, as Doctolib does with doctors. Rather, Dalma wants to become a “super app” for pet owners. She will soon be adding unlimited video calls with approved veterinarians, content about her animal’s health, nutrition or behavior, but also an e-commerce platform that will allow delivery of everyday products.

“We do not intend to create our own products, but to go through partners who take care of the logistics. A bit like Friichti did in the delivery of races “, sums up Alban de Préville.

This “super app” model was also preferred by Luko, who started with home insurance before offering other services around housing (search for apartments, guarantee of unpaid rents, etc.). It has only offered pet insurance in Germany for a few weeks after the takeover of its competitor Coya, which offered this product.

“We’ll probably have to offer it in France one day,” says Raphaël Vullierme, head of Luko. In France, other multi-risk insurance companies have a pet product, such as Lovys and Acheel. The competition is also outside France with British ManyPets (ex-Bought By Many), which raised $ 350 million in 2021.

Dalma is aiming for a launch not in the UK, but in Germany at the start of the 2022 school year. “Veterinary costs are also exploding there,” the manager states. Its biggest French competitor, SantéVet, which raised 150 million euros at the beginning of the year and is already established in Belgium, Germany and Spain, will open subsidiaries in Italy and the Netherlands this year. Dalma plans to double its customer base and awards by the end of the year.

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