Insurtech Companjon and bunq, the second largest neobank in the European Union, have announced their partnership to provide Extended Warranty and Purchase Protection to bunq users. The insurance product will cover financial loss for certain goods purchased by Easy Green users, the flagship subscription plan offered by bunq. The product will be automatically included for Easy Green users when purchasing goods using their bunq Metal Card.
“We’re excited to partner with bunq and enhance their users’ banking experience,” said Matthias Naumann, CEO of Companjon. “Companjon’s embedded insurance solutions complement bunq’s product portfolio and we’re looking forward to working together to bring value and peace of mind for end-customers.”
bunq is dedicated to building a greener future with its users, and their Easy Green subscription plan enables users to offset their carbon footprint by planting a tree for every 100 euros spent using their bunq cards. The partnership with Companjon will add an extra layer of security for Easy Green users.
Founded in 2012 by Ali Niknam, bunq has raised €193 million in a deal with private equity firm Pollen Street Capital, valuing the company at €1.6 billion. The investment will help bunq to expand further across Europe and continue incorporating M&A into its business strategy. In May 2022, bunq acquired TriCount, welcoming 5.4 million new users to its community and solidifying its position as the second-largest neobank in the EU.
Companjon, based in Ireland, specializes in digital-driven embedded insurance that is fully automated and tailored to online purchases. The insurtech seeks to change the way people think about insurance by creating seamless experiences when things don’t go as planned. With its extensive portfolio of usage-based insurance solutions, Companjon helps its partners grow their businesses, increase customer loyalty, and generate additional revenue.
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