The Irishman Cartrawler, B2B specialist in car rental and mobility solutions integrated in the booking routes, widens his field of action by buying the French startup Koala Insurance. This operation marks the entry of the platform into the travel insurance sector, a rapidly growing segment where demand for flexible and automated products continues to progress.
Founded in Paris, Koala has distinguished itself by an API-STR approach and an automated model that removes the heaviness of conventional procedures. Its flagship offers, such as the “Cancel for Any Reason” option or parametric insurance against theft disturbances, are already deployed to more than 70 partners in 17 countries. The acquisition allows Cartrawler to integrate these solutions into its Connect Platform, which already equips more than 250 world brands including American Airlines, Easyjet, Qantas, Uber and American Express.
For Cartrawler, insurance becomes a key lever to increase ancillary income, which already represent almost 15 % of airline revenues. The Irish company thus seeks to strengthen its role as a platform for “Embedded Travel Services”, by combining rental, mobility and now travel coverage, without requiring heavy developments for its partners. For travelers, this integration results in more fluid courses, accelerated reimbursements and more flexible cancellation options.
For Koala, this acquisition offers a scales that she could not have reached alone and an exit for her investors, including Insurtech Gateway, Playfair, Unti Ventures and Sterling Oak Group.
The amount of the transaction was not communicated.
