Evy wants to offer product warranty insurance everywhere

meet Eviis a French startup working on extended warranties and product warranty insurance. The company has raised its $6.5 million (€6.5 million) seed his round from Sequoia, La Famiglia VC, Global Founders Capital, and several business his angels.

Evy wants to bring the AppleCare experience to other brands and retailers. Essentially, the startup wants to create a seamless experience when it comes to adding product protection at checkout and adding appropriate coverage right out of the box.

The startup acts as an insurance broker, Wakam This is to cover risks, but in the future we may partner with other insurance companies. Meanwhile, it partners with retailers to embed Evy’s insurance products on their sites and sell extended warranties in their stores.

For example, Evy is Manomanothe home improvement and gardening e-commerce platform I covered over the yearsWhen a customer purchases a product at ManoMano, they can add a multi-year warranty against breakage, malfunction, and/or theft.

What sets Evy apart from traditional players is its ability to create custom insurance products in a very short time. For example, ManoMano has 25 different product categories in 4 countries. Evy has created 25 bespoke insurance programs in just a few months.

Similarly, insurtech startup Evy focuses on API-based integrations so retailers can develop deep integrations with Evy.

If there is a problem with the product, Evy will first try to find a solution to fix the product. We are planning to build a repair network. If it doesn’t work out, Evy will pay the customer.

Also, Evy shares a portion of its revenue with its retail partners, so this method of distribution should work very well. Some large retailers such as Darty and Best Buy already generate significant revenue from insurance products. Evy wants to provide solutions for the long tail of e-commerce and brick-and-mortar stores.

Evy is more than just an insurance play. We have a bigger vision when it comes to the product lifecycle. “Ultimately, we want to provide all customer service related to our products, which is convenient for both sellers and end-users,” said co-founder and CEO Simon Kemoun. .

“They are all switching to a circular economy. They know when their products are under warranty and when they have no issues. They issue trade-in offers so they can get the latest products. You can,” he added.

There are several companies in the US that focus on the same industry. Clyde When ExpandIn France, Evy is neat.

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