Paying ransoms does not scare Dattak

Dattak, which has just raised 7M euros, is entering the cyber insurance market, including the payment of ransoms. Around the table of insurtech on found for example Matthieu Bébéar (SPVie Assurances).

Despite a tense context, the cyber clothing market. Less than 6 months after its launch, the insurtech Dattak announces a fundraising of 7M euros. Made with the private equity fund XAnge and several business angels including Matthieu Bébéar (Deputy Managing Director at SPVie Assurances), the start-up wishes to support VSEs and SMEs in the face of cyber risk.

Ransom payment included

Within the insurance product, Dattak includes ransom coverage. ” This is an important expectation for SMBs as the number of ransomware attacks has skyrocketed in recent years.explains Benoit Grouchko, CEO and co-founder of Dattak. But, we only pay the ransom as a last resort “.

For this, the startup relies on cybersecurity technology to assess and reduce the risks incurred by companies. It also provides its customers with an alert system when vulnerabilities are detected. “ It is better to solve security problems at the source, in order to ensure the sustainability of the revival of the company’s activity. Especially since the company is well covered during this time because we compensate the operating loss “, adds the co-founder.

Wakam as risk bearer

Supported by the insurer Wakam, which positions itself as a risk carrier, Dattak relies on an indirect distribution model via courtiers. ” The technology developed by Dattak allows courtiers to obtain a quote in just one minute, with a 100% digital subscription process “, can we read in a press release.

Thanks to its fundraising, the young company aims to become “ the leader in cyber insurance in Europe and in particular to hire 10 new recruits for sales, engineering and underwriting positions. It will follow in the footsteps of the wholesale courtier Stoik, who entered the cyber insurance market recently.

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