Lokky: Crowdfunding 2022 from €2.6 MLN Successfully Concluded

The Insurtech Data Driven Lokky closes the equity crowdfunding campaign with a total collection of almost 2.6 million euros

Milan, 2 November 2022 – Lokkithe Italian Insurtech dedicated to Small Businesses, Professionals and Freelancers, has closed the equity crowdfunding campaign on Mamacrowd – the most important Italian platform for equity crowdfunding investments – with a collection of approximately 2.6 million euros, as part of an overall capital increase of 2.9 million euros; with this latest operation, Lokky reaches the threshold of 5 million euros raised since its inception.

Alongside over 200 investors, funding also saw the entry of AZIMUT ELTIF fund – Venture Capital ALIcrowd II. The capital will be invested to consolidate Lokky’s positioning in Italy and accelerate its growth, strengthen branding and expand the offering with exclusive products. In fact, Lokky’s strategy involves the introduction of new generation insurance products on the market, which are digital native and above all integrated with the proprietary algorithm and in partnership with the main insurance companies, such as those already signed with Vittoria Assicurazioni, Sara Assicurazioni and Tokio Marine.

In this operation, Lokky was supported by law firms Gattai, Minoli, Partners And Smart lawand by the advisor Startups G2.

“We are literally in love with the insurance world and we believe that our work has a long-term social and economic impact: improving the level of coverage of small businesses means making the entire country system more resilient and competitive against risks that are increasingly increasing in frequency and magnitude; just think of cyber risks, seismic and hydrogeological risks, pandemic risks and even those linked to the geopolitical situation”, he declares Paolo Tanfoglio, Co-founder and CEO of Lokky.

“The response from Mamacrowd investors was exceptional and above our expectations, we are very satisfied with the result achieved. Now we are ready to continue transforming the insurance sector, increasingly supporting businesses, especially the smaller ones, professionals and freelancers, through a tailor-made offer and creating increasingly innovative solutions suited to today’s working reality», he adds Sauro Mostarda, Co-founder and CEO of Lokky.

“Lokky is positioned within a market such as the insurance one which is rapidly growing in terms of technology-driven innovation, as demonstrated by the 200 million euros invested in the sector in the first half of 2022 compared to 60 million in the same period of 2021. The vision of the Company, together with the skills of the founders and the team, convinced us to embark on a collaborative path to support Lokky in the process of creating value over time”, declares Guido Bocchio, Head of Venture Capital of Azimut Libera Impresa SGR.

Unlike large companies that receive a consultative and personalized approach, small entrepreneurs, professionals and freelancers – due to time constraints and profitability at stake – often find themselves with standard insurance solutions, which include unnecessary coverage and products that are not consistent with their specific operational needs. Lokky – active since 2020 and founded by Paolo Tanfoglio and Sauro Mostarda – was born precisely to respond to this unmet market need. In fact, the startup offers professionals and companies a totally digital and «tailor-made» experience: from understanding insurance needs, to product customization, through payment up to the issuing and signing of the policy. Thanks to innovative technologies in the field of Smart Analytics and Data Enrichment, with the proprietary algorithm optimized in recent years, Lokky offers only the coverage most suited to individual needs, through total customization of the available products, eliminating superfluous guarantees and related costs.

The company currently covers the insurance needs of more than 200 types of customers with solutions ranging from damage to buildings to civil liability, employee liability, damage to contents, theft, professional liability, legal protection, other damage to property, and cyber risk. Furthermore, Lokky is natively ready to be integrated by external partners, both digital and physical: Financial Institutions, Fintech and Corporate will be able to incorporate its offer into their own, with great ease of integration, as demonstrated by the 16 partnership already active which include both fully digital operators, such as for example Hype, ProntoPro and SumUp, both less digital operators such as Toshiba Air Conditioning and SunCity.

In 2022 the startup won the Award in the category “Best Insurtech 2022” at the sixth edition of the Italy Insurance Awards and was included in the prestigious THE TOP 250 Insurtech.