January has been relatively quiet, with only 3 deals announced. The year is off to a slow start, with deal volume below last year’s level for the same period. In fact, we have to go back to 2020 to find such a low level of activity!
From a financial perspective, just over €5 million has been raised since the beginning of the year. As you can tell, these are small-scale deals, with one of them alone attracting more than 80% of the total investments for the month. This aligns with the market trend over the past two years, which has shifted toward funding startups that are more capital-efficient, prioritizing "profitable growth" over "growth at all costs."
Beyond the numbers, it’s worth noting that all disclosed deals took place outside of the three major European startup ecosystems—namely, the UK, Germany, and France. So, it’s the "rest of Europe" leading the charge in January, kicking off the year’s investment activity. Switzerland, which was particularly active last year, continues its momentum with new deals this month as well.
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Now, let’s spotlight the three most notable deals to uncover insights about the startups or broader trends they represent.
Coming in third is Minte AI, which raised nearly €500,000 from business angels. The startup is focused on helping health insurers digitize and optimize claims management. Leveraging AI, it structures data from medical documents to streamline the work of claims handlers. Founded in 2020, Minte AI currently has 13 employees, a +18% increase in headcount over the past year.
In second place is Insurteam, a Swiss startup that secured €700,000+ to accelerate the rollout of its B2B claims management solution for flight delay insurance. The company highlights AI-powered capabilities and mentions parametric insurance solutions, among others. The goal? To help insurers cut claims management costs by 80%! Launched in early 2024, the startup attracted investment from Spicehaus Partners and the Swiss business angel network SICTIC, which has been particularly active in the region. Currently, Insurteam has a team of four—+33% growth in the past year—and is set to expand following this funding round.
Topping the list is Weecover, a Spanish startup specializing in embedded insurance. The company raised over €4 million in a new funding round, with SwanLaab joining alongside existing investors. Weecover provides infrastructure for third-party platforms (e-commerce sites and marketplaces) to become insurance distributors, integrating insurance products seamlessly into their checkout flows. To give you an idea of scale, the startup recently revealed that, on Black Friday alone, it sold over 1,000 insurance policies through a single partner. With this funding, Weecover aims to strengthen its presence in Spain, where it already collaborates with major retailers like PC Componentes, FNAC, and Decathlon, while also expanding into new markets. Currently, the company has 16 employees, up +14% year-over-year.
