iSalud
Online comparison portal for health insurance.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 Valuation: €0.0 | round | |
* | N/A | N/A | Buyout |
| Total Funding | 000k | ||
| EUR | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 14 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| % profit margin | (15 %) | 6 % |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Company filings or news article
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iSalud.com operates as a digital insurance brokerage based in Barcelona, Spain, specializing in health insurance. Founded in 2010 by Albert Castells, Jose Lopez, Daniel Perez, and Belen Barange Pons, the company emerged during a financial crisis, capitalizing on the growing demand for health insurance and the rise of online comparison platforms.
The firm functions as an online insurance comparison platform, enabling individuals and corporate clients to compare and purchase policies from Spain's leading insurance providers. Its business model centers on earning commissions from the insurance companies for each policy sold through its platform. The service provides personalized advice to help customers find coverage that best fits their needs and budget. For its corporate clients, iSalud offers a digital solution to manage employee health insurance benefits, streamlining tasks for human resources departments and providing data-driven insights.
A significant milestone in the company's history was the acquisition of a 60% majority stake by French insurance group CNP Assurances in January 2018 for approximately €30 million. This partnership aimed to accelerate iSalud's development while allowing it to maintain its operational model and startup mentality. However, in a notable turn of events, the original founders and management team successfully completed a buy-back of the company from CNP Assurances in December 2023, regaining majority control to steer the company into its next phase of growth.
The platform's core service is a comparison tool for health, life, and burial insurance, which is complemented by an app offering medical consultations. This allows for a fully digital process, from comparing quotes to finalizing the policy. The company has expanded its product offerings beyond health insurance to include auto and funeral insurance under the brand Doctor i.
Keywords: insurance brokerage, health insurance, insurtech, online comparison, corporate benefits, policy management, digital distribution, financial services, insurance intermediary, Spain