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Grace raises €5.9M seed to offer insurance to luxury goods
Grace, an insurance provider for luxury goods, raised €5.9 million in a seed round led by FinTech Collective and Speedinvest. The app allows consumers to claim for stolen or damaged items while offering brands fraud detection and logistics support. Co-founded by Lou Dana, the company aims to bridge the gap in post-purchase protection as demand rises amid an increase in luxury goods theft.
Key points
- Grace raises €5.9M seed funding to expand insurance for luxury goods.
- Led by FinTech Collective and Speedinvest, with participation from Kima, Bpifrance, and Firstminute Capital.
- The app facilitates claims for stolen/damaged items, enhancing brand protection.
- Luxury goods theft has tripled, stressing the need for better post-purchase services.
- Grace collaborates with Chubb for underwriting services.
- The company seeks to scale across Europe and hire more engineering staff.
Why it matters
- The rise of embedded insurance within the luxury market highlights shifting consumer protection needs.
- 2025 IT trends include increased focus on consumer data security and personalized service in the insurance sector.
- The luxury goods market is increasingly integrating technology to enhance customer experiences post-purchase.
Grace’s innovative approach addresses a growing gap in post-purchase luxury goods protection, aligning with current trends in embedded insurance and heightened consumer security demands, potentially shaping the future of luxury retail insurance.