Prominent investment group engaged in cutting-edge technologies invests in Kasko2go, an insurtech company, increasing its capital by €2.5 million. Yet another crucial step is accomplished before the product hits the European automotive market.
Kasko2go is an innovative insurance solution provider aimed at promoting the idea of a safe driving culture in society. Its in-house telematics solution and sophisticated scoring model powered by cutting-edge technologies, incorporating open source intelligence, signal and image processing, and text analytics allow offering individually priced motor insurance policies for safe drivers. At the same time, this technology helps insurance carriers acquire low-risk customers.
From now on auto insurance becomes deeply personalized, and it is provided with better risk management and improved fraud analysis. The telematics division has the most precise and complete understanding of global driving patterns, which was derived from 3 million drivers over 5 years plus via advanced data analysis.
Kasko2go company is smoothly carrying out its planned goals before expansion into the European market. And the capital increase is one of them. Kasko2go company received investment from a large investment group engaged in the development of advanced technologies, specifically biotech, as well as industrial construction. Being a prominent real estate operator, the group has dedicated the last two decades to investment in innovative technology.
"We have witnessed the next important step of the company's funding. This step is small, but rather significant for Kasko2go. Funding is a permanent process the company is involved in, raising money with every round. This milestone was planned and now it is implemented. The next round is scheduled for the first quarter for 2019, and today we already have the first investment applications to be considered", — as stated by Genadi Man, co-founder, and CEO of Kasko2go company.
The capital increase implies the growth of Kasko2go company's value, the trust of serious investors, and it reflects the operation's success as a whole.