Travel Packages Insurance Startup Setoo Raises 8 Million Euros

U.K.-registered Israeli insurance technology startup Setoo Ltd. has raised 8 million euros in a Series A round, the company announced Tuesday. Led by Paris, London and Tel Aviv-based startup incubator Kamet, owned by French insurance-focused holding company AXA SA, the latest round brings Setoo’s total funding raised to 10.3 million euros.

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Founded in 2017, Setoo offers travel industry companies the ability to create personalized insurance policies relevant to a specific package purchased by a customer.

The company employs 14 people in its research and development center in Tel Aviv.

Consumers have to be very confident about what they are getting and know that if anything goes wrong they can get their money back, Noam Shapira, co-founder and co-CEO of Setoo said in a phone interview with Calcalist Tuesday. Through Setoo’s service, when someone purchases a future ski trip they can also get insurance in case it does not snow enough, or the weather is otherwise unsuitable for skiing, Shapira explained.