Luko wants to grow faster despite the crisis, and is preparing for it

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During an interview with the specialized magazine Business Insider, the founder of Luko, a key figure in French Insurtech, spoke about the challenges currently being encountered by his company. We learn that the company, which specializes in digital home insurance, has been able to cope with the inflation that is also affecting the digital sector by doubling down on revenue generation and cost optimization. Several major funds support the firm, such as Kima Ventures (Xavier Niel, Jean de La Rochebrochard), Accel or Founders Fund.

For Luke, no Series C fundraising for the moment: it was planned to raise a hundred million dollars to grow the activity more quickly, but it will have to be done without. Blame it on a lull in investment in the field according to Raphaël Vullierme, CEO. Previously, the manager had tried to perpetuate OpenJet, an on-demand aircraft booking platform. We also owe him a remarkable passage at Rocket Internet (Foodora, Take Eat Easy).

Room for consolidation

The last fundraising dates from the end of 2020, so it is now time for Luko to validate the achievements by developing its model carefully. For Raphaël Vullierme, it is now a question of focus on the French and German markets, historical. Expansion to other European states is also on hold, while spending on innovation is already reduced. To cope with the tense economic context, key internal projects such as the launch of a search engine or water leak detectors are also on the sidelines.

Today, Luko can still boast of having no less than four hundred thousand customers, in his own words. The forecast puts on 25% more by the end of the year. We are in November: the deadline is ambitious, but displayed. By way of comparison, Alan (health insurance) claims three hundred thousand customers in Europe with growth of 86% in 2021.

To the moon

Concluding the interview with our colleagues from Business InsiderRaphaël Vullierme assures that he is preparing an announcement whose content will allow scale “faster. All very soon. Until then, users can still get a refund”twice as fast” than the competition and answers in less than two minutes from their mobile app. To access their member area, customers can also connect from a web version.

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