Swiss insurtech startup grape has brought in €1.7 million in funding to expand its digital insurance product and mental health benefits.
Employee insurance is a standard for companies’ benefit packages across the world.
The group insurances for health, accident, and life have reached a market size of over $5 trillion in 2021.
And though it’s a massive market, it’s one ripe for innovation and disruption.
The pre-seed round was led by Swiss venture capital firm Wingman Ventures, with participation from the fintech fund Tomahawk.VC and DD Venture Capital.
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.
Founded in November 2021 by Gregory Inauen and Fabian Mächler, grape’s software product allows their customers to enable a variety of automation that reduce administrative work, such as for claiming, reporting, and payroll adjustments.
Until now, the startup has built over 20 integrations into different HR tools which can be synced within seconds with their platform.
grape is also directly reinvesting into prevention services supporting the health of their customer’s employees through their benefits and online therapy sessions addressing the importance of mental health at the workplace.
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.
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