French startup Grown up Getting a new CEO Stephen legillon The company is joining as chief executive, while Philippe Mangamatin is stepping back from day-to-day activities for personal reasons – he will become honorary chairman.
If you are not familiar with the company, Sayana is an insurance company, which has an insurance license focused on property and accident. This is an important step as the French regulator (ACPR) has not granted a new license in this category since 1983.
The company’s go-to-market strategy is also interesting because it does not sell insurance products directly to consumers. Instead, the company is manufacturing insurance-as-a-service products. It also partners with other companies that offer Seyna’s insurance products under its brands.
Behind the scenes, Seyna provides an API to generate insurance contracts on demand – an API is a programming interface that lets two services interact with each other. You can also connect directly to Seyna’s interface to manage contracts.
Seyna has created its main insurance system, a significant differentiating factor compared to legacy players. The startup can produce many different variants that cover around 20 different insurance products – pet insurance, ticket cancellation, fare guarantee, etc. Customers include Gantem and Decathlon.
The company’s new CEO, Stephen Legillon, co-founded a company called La Belle Asitté, which rents you chefs at home and for dinner. I covered On TechCrunch. He added another product called GoCater, a corporate catering service – the GoCater letter was spun out From La Belle Asset and acquired by Exeter.
Seyna has raised € 14 million seed round ($ 17 million at today’s rate) from Global Founders Capital, Allianz France, Financier St. James and several business angels. Insurance companies require a ton of capital to operate, which is why the seed round seems to be quite large for the French market.