December was relatively quiet, with only four deals announced—below both the historical monthly averages and this year's average of five deals per month. The end of the year often swings between extremes: either highly active, followed by a quiet start to the new year, or vice versa. Time will tell if this slow December is offset by a strong start in 2025.
From a financial perspective, €11 million was raised this month. This modest amount reflects the smaller scale and younger maturity of the startups announcing funding rounds in December.
Most of these rounds were refinancings for startups that had previously raised capital. Interestingly, three of the four deals came from the UK, securing its ecosystem's lead over France for the year.
Subscribe to our newsletter:
Now, let’s spotlight the three most notable deals to uncover insights about the startups or broader trends they represent.
Third Place: Little John
This French startup secured its first funding round of €1.1 million, primarily from business angels. Co-founded by a former Leocare employee, Little John combines traditional brokerage networks with technology, including AI, to enhance operations. The goal is to aggregate traditional brokers and improve their efficiency through modern tools. This reflects a growing trend in InsurTech: leveraging existing distribution networks rather than replacing them, as earlier phases of InsurTech innovation had envisioned.
Second Place: Jove
The UK-based Jove announced a €4.3 million funding round to further develop its insurance solutions for freelancers and small businesses. Led by Portuguese private equity fund Explorer Ventures, the round brings Jove’s total funding to €6.8 million since its 2021 launch. Jove focuses on providing international coverage for workers, regardless of residence or operation location. Although the startup did not disclose business metrics, its LinkedIn profile shows a 38% growth in staff over the past year, now totaling 22 employees.
First Place: Bikmo
The top deal of the month came from Bikmo, a UK-based online bicycle insurance provider. Bikmo raised €5.7 million from its existing investors, just over a year after its previous funding round. This brings Bikmo’s total funding to over £10 million since its 2014 inception. While no business metrics were shared, LinkedIn data shows the startup employs 51 people, a 31% increase from last year.
