Swiss insurtech startup grape picks up €1.7 million to reinvent employee insurance
Swiss startup grape has announced a raise of €1.7 million to reimagine insurance for employees. The insurtech is making processes more efficient and streamlined for HR teams and giving employees improved services.
The round was led by Swiss venture capital firm Wingman Ventures, with participation from the FinTech funds Tomahawk.VC and DD Venture Capital.
Employee insurance is a standard for companies’ benefit packages across the world. It’s something that employees now anticipate having access to, yet, while it’s a massive market, it’s one ripe for innovation and disruption. Much of the current providers are lagging behind in terms of digitalisation and tech-enablement. Enter grape, the Swiss insurtech provider that aims to become a health partner and support all-over physical and mental wellbeing.
Founded in 2021 by Gregory Inauen and Fabian Mächler, grape provides digital employee insurance to enterprise customers. The insurance packages are bundled with a B2B SaaS product that saves the insured companies time managing their coverages and claims. The startup is also committed to improving services for employees themselves, and so directly reinvests into prevention services supporting the health of their customer’s employees through their benefits and paid therapy sessions – one of the first insurers to do so.
The Zurich-based team has developed a product that is streamlining insurance processes for HRteams, taking away a headache that has been felt for a long time. The product operates with a variety of automation that reduce administrative burdens – such as claiming, reporting, and payroll adjustments.
So far, grape has built over 20 integrations into different HR tools which can be synced within seconds with their platform. All the employees that are covered with grape can access a wide range of benefits, coaching and therapy sessions to improve their physical and mental health.
The new funding will be used to continue expanding the product and grow the team further, to bring its vision to more enterprises and more markets.
Success is no accident, it is hard work and perseverance. Congratulations to the entire team at Grape on your funding. I wish you great success in your endeavours.Shishir Gupta, Founder and CEO, StartupLanes
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