Grace, a luxury goods insurance company, has secured a $6.4 million (€5.9 million) seed round led by FinTech Collective and Speedinvest.
The company partners with luxury brands to protect high-end purchases, offering fraud detection, claims processing, and logistics support through its app. Customers can file claims for stolen or damaged items, streamlining the insurance process.
Co-founder and president Lou Dana stated that Grace was founded to address a service gap in post-purchase protection, particularly for travelers.
“There was a massive gap between luxury brand promises and the reality when something goes wrong,” Dana said.
With luxury theft tripling in recent years, brands face growing challenges in safeguarding their products. Grace has partnered with Chubb, a global insurance leader, to underwrite policies.
CEO Quentin Roy highlighted the difficulty of getting luxury brands to adopt new technology.
“Brands struggle to control what happens after a sale,” Roy explained. “We’re not just offering protection; we’re elevating their brand.”
While competitors like Zing Cover offer similar services. Grace positions itself at the intersection of embedded insurance, luxury services, and post-purchase protection.
Investors including Kima, Bpifrance, and Firstminute Capital participated in the round. The funding will help expand operations across Europe and grow the product engineering team. Grace aims to cover over 200,000 luxury items by year’s end.
