Feather, a German startup, has raised €6 million in funding to provide health insurance solutions for expats living and working in Europe. While there are existing insurance options for foreign nationals, Feather aims to stand out by offering a more personalized and comprehensive approach. The startup offers a recommendation tool that helps expats determine their insurance needs, including health, life, pet, automotive, and personal liability coverage.
The founders of Feather have received support from angel investors who have firsthand experience with the challenges faced by expats. The startup’s lead investor, Keen Venture Partners, was introduced to Feather by an expat associate who recognized the need for their services. However, fundraising has not been without its difficulties, particularly in the post-2021 hype surrounding insurtech startups.
Despite the challenges, Feather is focused on expanding internationally. The startup currently serves expats in Germany, France, and Spain, with plans to launch in three more countries by the end of 2024. The founders realized that the expat niche was particularly interesting for their digital-first offering and saw the potential for growth as Europe’s economies continue to hire more foreign workers.
Feather aims to provide a better insurance experience for expats, offering transparent policies, unbiased recommendations, and simple digital claims processes in English. Additionally, the startup is betting on employee benefit insurance for companies hiring a large number of expats.
While Feather embraces technology, it also values partnerships with legacy insurance players and has senior insurance executives on its cap table. This measured approach to fundraising and spending may help the startup avoid some of the scrutiny faced by new insurtech partnerships.
Overall, Feather’s innovative approach to addressing the fragmented and complex insurance needs of expats sets it apart from traditional insurers. With its recent funding and international expansion plans, Feather is well-positioned to meet the growing demand for insurance solutions among Europe’s expat population.
