Italian BeSafe Group secures €1.2 million for its insurtech for the travel industry

Italian startup BeSafe Group has just closed €1.2 million to accelerate the development of tech and insurance services for European tourism, holistically combining insurtech with travel tech. 

The round was jointly underwritten by CDP Venture Capital Sgr, through its Acceleration Fund, and Prana Ventures SICAF. 

Every traveller has the same fear when booking a trip – what happens if the trip is cancelled? Do they lose money? Hotels and accommodation providers also have the same worries. BeSafe was created precisely to remove this stress, while at the same time providing the accommodation structures with a guarantee of payment, thanks to a rate with cancellation insurance included. The startup’s service as a result increases direct bookings, facilitates advance payments, and offers guests new and unique services. 

Leonardo Saroni, partner at Prana Ventures, said: “Among the many startups analysed in recent months in the Traveltech industry, BeSafe is one that solves a problem for both hoteliers and travellers in a simple way with a scalable solution; this is why we believe BeSafe can scale to become an international player in the hospitality services market.”

When using BeSafe, it is the insurance company that refunds the guest in case of cancellation, and the accommodation provider is relieved of this refund burden so its revenues are guaranteed when a reservation is cancelled. It means both travellers and travel providers can book with less stress and more peace of mind. 

Alessandro Bartolucci, CEO & Co-Founder of BeSafe Group commented: “Our Insurtech and Fintech solutions respond to the real needs of accommodation structures: this is confirmed by the fact that more than 1300 Italian properties have chosen us, including hotel groups such as Best Western, Voihotels of the Alpitour group, Club Esse Hotels & Resorts, Arbatax Park Sardinia Resort, Acanfora Hotels & Resorts, Felix Hotels, Affitti Brevi, and more than 150,000 tourists have travelled safely with us so far – resulting in some 42,000 insured bookings. This round will support BeSafe’s growth as well as accelerate its expansion in Europe. After the initial launch in Italy we are now in Spain and Portugal; and BeSafe Rate is now ready to roll out in France, Austria and Greece”.

Alongside BeSafe Rate, which is a prepaid rate with travel insurance included that is fully integrated with all the major hospitality booking software, the Group has also introduced BeSafe Pay. This is a PSD2-compliant hospitality payment gateway that automates the entire management of hotel bookings with a focus on data security and cost savings.

The innovative travel tech firm is therefore providing a full stack of digital solutions that protects travellers at no additional cost to them, whilst at the same time protecting the accommodations earnings. It’s a win-win solution for all. 

The two products BeSafe Rate “the insured rate” and BeSafe Pay “the future gateway”, are now included in BeSafe Suite the “all-in-one” solution designed for the hospitality industry.

Alessandro Bartolucci added: “Being always one step ahead of the future, imagining scenarios and understanding the need to facilitate hotel reservation processes, and confirming ourselves as one of the best vertical insurtech and fintech solutions on the hospitality scene in Europe: this is our ambition and our goal. In particular, I am happy today and I thank my entire team, who richly deserve to have reached an important milestone in our journey, believing in us every day so that all this could come to fruition.”