Tuio secures €15 million in its third funding round, attracting new investments from MassMutual Ventures and BlackRock to enhance its technological model and support growth.

Target Information

Tuio has successfully completed its third funding round, securing a total of €15 million through a combination of equity and debt. This round includes the participation of new investors such as MassMutual Ventures and BlackRock, along with increased stakes from existing investors, including BAMCAP Ventures and Extension Fund. The funds raised will be utilized to enhance their technological model, hire additional personnel for managing new products, and support the company's ongoing growth.

Currently, Tuio has a workforce of 38 employees, with plans to expand this number to 45 within the year. Additionally, the company aims to explore international expansion, with initiatives planned for implementation in 2025. Tuio's product portfolio will soon include a pet health insurance plan and auto insurance policies, further diversifying their offerings.

Industry Overview

Insurtech is a rapidly evolving sector within the financial services industry, particularly within Spain, where digital transformation is reshaping traditional insurance models. The Spanish insurance market is experiencing significant growt