Koala

Koala is a travel insurtech that offers disruption alerts and aims to pay claims within 24 hours.

Koala analyses flight information - tracking over 100,000 flights a day - to provide real-time insights to its policy holders. The digital platform compensates affected users automatically, without them having to file a claim. Compensation delivery time averages 24 hours, and complaints are answered in an average of 2 minutes. The insurtech offers two products, Koala Flex (a cancellation-for-any-reason product) and Koala Trip Distribution (a disruption product for delays, cancellations and missed connections).

Koala raised €1.6m in funding, led by Insurtech Gateway, in July 2020.

In January 2021, Koala partnered with travel booking platform Ulysse to distribute Koala Flex. Koala Flex allows travellers to cancel their booking for any reason up to 4 days before departure, without having to provide any justification. Cancellation is done online and customers receive a 70% refund of the booking price.

Koala raised €2m in funding, led by Insurtech Gateway, to help accelerate its growth in Europe, grow its tech and sales teams, and build new products in March 2023.