GRACE, a Franco-Swiss fintech, has raised €5.9M in seed funding to enhance protection against theft and loss for luxury brands. FinTech Collective and Speedinvest led the round, joined by several notable investors. CEO Quentin Roy emphasized addressing growing concerns about luxury theft, which surged by 60% in 2023. GRACE's innovative solution provides automatic insurance coverage integrated within brand experiences at no additional cost. Funds will support protection for over 200,000 luxury items in partnership with major brands, alongside a collaboration with Chubb to enable global expansion in the luxury insurance market.
GRACE has identified a significant gap in the luxury market and developed an innovative solution to address it. Lou, Quentin, and Martin's deep understanding of both the luxury industry and the complexity of insurance is essential as they build a global product from day one.
We're beyond excited to support GRACE as they redefine luxury ownership and protection while setting a new standard of care between luxury brands and their clients.
The alarming rise in luxury theft... is undermining customer confidence and brand experience. Existing solutions lack adaptability, global coverage, and seamless integration within the customer journey.
GRACE offers luxury clients automatic protection, integrated with brand experiences and provided at no extra cost.
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