Italian insurtech BeSafe Group pockets €1.2M to stir up travel insurance services in Europe

BeSafe Group
Image credits: BeSafe Group

BeSafe Group, an Italian startup that launched BeSafe Rate in 2018, the prepaid rate with travel insurance included, announced that it has raised €1.2M. The round was jointly underwritten by CDP Venture Capital Sgr, through its Acceleration Fund, and Prana Ventures SICAF.

The investment will enable BeSafe Group to accelerate expansion in Europe and consolidate the company’s leadership position in insurtech and fintech services for hospitality.

Alessandro Bartolucci, CEO & Co-Founder of BeSafe Group says, “Our Insurtech and Fintech solutions respond to the real needs of accommodation structures: this is confirmed by the fact that more than 1300 Italian properties have chosen us, including hotel groups such as Best Western, Voihotels of the Alpitour Group, Club Esse Hotels & Resorts, Arbatax Park Sardinia Resort, Acanfora Hotels & Resorts, Felix Hotels, Affitti Brevi, and more than 150,000 tourists have travelled safely with us so far – resulting in some 42,000 insured bookings. This round will support BeSafe’s growth as well as accelerate its expansion in Europe. After the initial launch in Italy, we are now in Spain and Portugal; and BeSafe Rate is now ready to roll out in France, Austria, and Greece“.

Eliminates fear of losing money

Alessandro Bartolucci founded BeSafe to solve problems that all travellers are facing – booking and paying for a trip and the fear of losing the money in case of cancellation.

In 2018, the company launched BeSafe Rate, a digital solution that protects at no additional cost to the traveller, guaranteeing a refund in case of cancellation and assistance during their stay for unexpected events, while at the same time protecting the accommodation’s earnings.

When BeSafe Rate is selected, it is the insurance company that refunds the guest in case of cancellation, and the accommodation structure is relieved of this refund burden, so its revenues are guaranteed when a reservation is cancelled.

BeSafe’s services aim to increase direct bookings, facilitate advance payment and offer guests new and unique services.

The company has also developed another product – BeSafe Pay, the PSD2-compliant hospitality payment gateway that automates the entire management of hotel bookings, with a focus on data security and cost savings.

“Being always one step ahead of the future, imagining scenarios and understanding the need to facilitate hotel reservation processes, and confirming ourselves as one of the best vertical insurtech and fintech solutions on the hospitality scene in Europe: this is our ambition and our goal. In particular, I am happy today and I thank my entire team, who richly deserve to have reached an important milestone in our journey, believing in us every day so that all this could come to fruition,” concludes Alessandro Bartolucci.

Investor

“Becoming a partner in this reality at the beginning of their journey and helping them grow with our participation, and also thanks to the experience of Leonardo Saroni, makes us particularly enthusiastic and is very much in line with the mission of our fund,” concludes Alessio Semoli, Partner and Chairman of PranaVentures.

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