Press release - 13 June 2023
A year after raising more than 720,000 euros through a crowdfunding operation, Santexpat.fr raises €3 million to accelerate its development. The insurtech positioned on the health of French people abroad aims for profitability in early 2024.
Supported by the investment bank Largillière Finance, the insurtech welcomes Malakoff Humanis via its MH Innov' fund and Swiss Life France to its capital. Alongside the Founder and CEO Jean-Christophe Pandolfi, who retains the majority of the capital, the Accurafy4 fund reinvests, BNP Paribas and Bpifrance also participate in the operation.
Positioned on insurance and services related to the health of French people abroad, Santexpat.fr has thus raised more than €5 million since its launch on the market in 2020.
Thanks to this operation, the broker / comparator now wants to accelerate its growth by focusing on three areas. First, the insurtech wants to enrich its health and e-health services around access to care internationally. To do this, the company wants to rely on blockchain technology and Artificial Intelligence.
Santexpat.fr will also switch its offer to multilingual and multinational to more broadly support foreigners on the move. Finally, the structure wants to develop its B2B and B2B2C distribution channels by making its comparative platform and white-label advice available to wholesalers or insurers.
Profitability in 2024
Santexpat.fr, which has nearly 2,000 insured customers in its portfolio, currently relies on 22 risk carriers and around ten operators specializing in health services. The insurtech, which generated more than €2.5 million in premiums at the end of 2022, does not rule out external growth opportunities. The latter also wants to open an office in North America next year and is counting on this latest fundraising to achieve profitability by 2024.
"This new fundraising allows us to have a strategic partnership with two industrial players in the insurance sector, to pool our agility and their corporate and actuarial skills. We thank Largillière Finance who, through its perfect mastery of the sector, advised us in this operation which resulted in their entry into the capital" declares Jean-Christophe Pandolfi, CEO and Founder of Santexpat.fr.
“We are proud to have supported Jean-Christophe Pandolfi and his team in this very promising transaction for the growth of Santexpat. Our expertise, both in the insurance brokerage sector and in the tech sector, contributed to the success of the transaction despite a complex financial context in the fintech/insurtech sector” says Nicolas Ibanez, Partner at Largillière Finance.
Stakeholders in the operation:
| Company: Santexpat.fr | Jean-Christophe Pandolfi |
| Company M&A Advisor: Largillière Finance | Nicolas Ibanez, Thibault Vandevyver |
| Investors: Malakoff Humanis – MH Innov’, Swiss Life France | |
| Lenders: Bpifrance, BNP Paribas | |
| Company Lawyer: SVZ | Olivier Legrand |
With offices in Paris, Lyon, Nantes, Brussels and Geneva, Largillière Finance is an independent investment bank dedicated to assisting managers and shareholders of small and medium-sized companies with their capital transactions: company sales and acquisitions, financing (capital and/or debt), financial engineering (valuation, etc.) and financial strategy.
