Mutua Madrileña

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Venture Building Program from the hand of Antai. Two years of collaboration and construction of the ecosystem

Mutua remains committed to Antai as a vehicle to create technological solutions and build the InsurTech ecosystem. 

 

One of the main lines of action for Mutua’s innovation strategy is supporting startups and investing in their projects. This facilitates business agreements and pushes the company’s evolution within the InsurTech ecosystem and other associated environments.

In 2018, Mutua entered the shareholding structure of Antai Venture Builder, along with Innocells (Banco Sabadell). Together, the companies invested 10 million euros in order to gain first-hand knowledge on how to build new companies and develop the Insurtech and Fintech verticals.

After two years of collaboration, Mutua remains committed to Antai as a vehicle to build new ventures

Antai is an international venture builder founded in 2012 in Barcelona. They have created renowned technology startups like Wallapop, Glovo, Carnovo and Elma, among others. The Antai model is based on building new companies with business models that are already proven in other markets, for example in the USA. Antai replicates those business models in Spain; then they recruit the team and support the business financially, until the new company can raise external funding. Antai often turns to partners with industry-specific knowledge for support, as is the case with Mutua Madrileña in the InsurTech ecosystem.

The alliance between Mutua Madrileña and Antai has brought about collaboration on projects that have produced solutions for new customer needs. Mutua shares its knowledge and experience in the insurance industry and finds synergies in Antai’s agility and dynamism when building new companies.

The alliance with Mutua has driven the creation of InsurTechs like Elma, a health insurance distributor that uses a telemedicine platform to provide primary health care, or Singular Cover, which offers 100% digital insurance for SMEs. This year also saw the launch of Cleer, 100% digital car insurance that repays policy holders part of their premium when they don’t drive; and Vitaance, whose life insurance focuses on promoting healthy lifestyles. Other companies already in the market like Carnovo, Nemuru and Mascoteros have also been analyzed by Mutua’s business areas to detect potential synergies. 

After two years of collaboration, Mutua remains committed to Antai as a vehicle to build new ventures and, in consequence, will participate in the upcoming capital increase, whose goal is to support the new business plan for 2021-2025. Antai will continue to explore opportunities in the company’s areas of interest.