Adevinta Ventures, an investment arm of Norway-based marketplace operator Adevinta, today announced investment in France-based digital insurance provider Lovys.fr.

This is the first investment of Adevinta Ventures in fintech and insurtech sector and in France, Adevinta said in a statement.

Adevinta Ventures has so far invested in Spain-based car subscription startup BipiCar, Germany-based healthcare jobs search engine MedWing, Flatfair, a home rental service in the U.K., Germany-based RV-sharing site PaulCamper.com, and Finland-based real estate marketplace Kodit.

The financial terms of the latest Series A follow-on funding round were not disclosed. Other investors, including Japanese funds MS&AD Ventures, also participated in the funding.

Founded in 2017, Lovys has recently expanded to Spain and Portugal and planned to reach 100,000 policyholders across Europe by this yearend.

Commenting on the investment, Jordi Iserte, investment director of Adevinta Ventures said: “Our investment demonstrates the confidence we place in Lovys. Their European and inclusive company culture greatly contributes to Lovys’s rapid growth and also reflects the values shared by Adevinta.”

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