Grace, an insurance company focused on luxury goods, has raised $6.4 million in seed funding led by FinTechCollective and Speedinvest. The firm collaborates with luxury brands to offer protection for high-value items against theft and damage through an app that streamlines claims and fraud detection. Co-founders Lou Dana and Quentin Roy identified a significant gap in post-purchase protection for luxury goods, prompting their venture. Grace also works with Chubb for insurance underwriting, aiming to ease technology adoption for luxury brands despite the challenges they face in product management after sales.
"There was clearly a massive gap between the service levels luxury brands promise and what happens post-purchase when something goes wrong," Dana said.
"We weren't just offering protection; we were helping elevate their brand," Roy said about the company's pitch.
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