Mutumutu International, an online life & income protection insurance startup, is aiming to raise EUR5.5 million in Series A funding.
The funding is to be used mainly for Mutumutu’s expansion across Europe.
Mutumutu aims to maintain a high level of customer engagement using a smart application with weekly sports challenges and regular cashback rewards for sports activities. This proposition leads to an excellent customer rating and a high Net Promoter Score (NPS) of 75.
In the past two has years Mutumutu successfully raised EUR3.7 million from French bancassurance giant Societe Generale Assurances. Mutumutu entered the French market in November 2021 and is now preparing to expand into the German market in Q4 2022.