Montreal, QC (Aug. 20, 2024) \u2013 YouSet, a Canadian startup taking the pain out of shopping for insurance, is pleased to announce it has raised an oversubscribed seed-stage investment round of $3.5 million. The company is also announcing the release of its highly anticipated new product, a feature that allows users to bundle home and auto policies from different insurers, now making it possible to unlock even lower prices.<\/p>\n
The funding comes from investors who had participated in YouSet\u2019s $2.1M pre-seed round announced in 2022, and new strategic angel investors. Investors doubling down on YouSet include Don Fox (former Executive VP at Intact), Neil Mitchell (former Managing Director at Marsh), Joe Canavan (Principal of Canavan Capital), and Nicolas Bouchard (Founder of DuProprio). New investors include Jim Texier (former Head of Big Data at AXA), Phil Gibson (former Senior VP at Aviva), and Dan Robichaud (serial entrepreneur & investor).<\/p>\n
Xavier Freeman, Co-Founder and CEO of YouSet, marked this milestone, saying, \u201cIf YouSet\u2019s growth to date has taught us anything, it\u2019s that Canadians are very eager to find better home and auto insurance at a lower cost, just as we\u2019re dedicated to making it a reality. In today\u2019s environment, most people are looking to cut their costs without compromising on quality. We make it easy for users to find the right policy and reduce their insurance bill, online and in minutes.\u201d<\/p>\n
YouSet was founded to save Canadians time and money when shopping for insurance. In 4 minutes or less, users can seamlessly compare rates from major insurers, saving them nearly 30% on average. Now, the company is also introducing its latest innovation, offering bundled insurance policies from multiple insurers. For the first time, users can bundle home and auto insurance from different providers, and unlock up to an additional 15% in savings when purchasing the bundle.<\/p>\n
With over 250,000 users and counting, more and more Canadians are turning to YouSet for its efficiency, user experience, and cost savings. The funding announced today allows YouSet to accelerate its aggressive growth strategy, designed to further increase sales through the company\u2019s growing network of more than 50 distribution partners. Those partners provide their clients with privileged access to YouSet\u2019s exclusive low rates for home and auto insurance, boosting their own revenues in the process.<\/p>\n
Part of the investment will be used to expand the company\u2019s team, as YouSet is currently looking to fill multiple roles, to further grow its team of 20 employees.<\/p>\n
\u201cInsurtech is changing the way people shop for insurance around the world, and I\u2019m excited to see how innovative companies like YouSet can revolutionize the industry right here in Canada,\u201d said Joe Canavan, an early investor in YouSet. \u201cThe company\u2019s growth has been impressive and we believe that the value it delivers for Canadians will only increase. There is a large appetite for this all across Canada.\u201d<\/p>\n
Founded in 2017, YouSet is an insurtech company dedicated to simplifying the process of buying and renewing home and auto insurance online, and at a lower cost. With over 250,000 users and an average user review rating of 4.9 stars, YouSet allows Canadians to find home, condo, tenant, and auto insurance policies for 29% less on average. Through its proprietary technology, YouSet gets Canada\u2019s top insurance providers to compete for every user\u2019s business, which means users get the lowest-priced offers on their insurance policies in 4 minutes or less. Discover more at youset.ca<\/a>.<\/p>\n Source: YouSet<\/em><\/p>\n Tags: funding<\/a>, InsurTech<\/a>, InsurTech Spotlight<\/a>, seed funding<\/a>, YouSet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Montreal, QC (Aug. 20, 2024) \u2013 YouSet, a Canadian startup taking the pain out of shopping for insurance, is pleased to announce it has raised an oversubscribed seed-stage investment round of $3.5 million. The...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22341"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22341"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22341\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}