In debt, the insurer Luko requests the opening of an accelerated safeguard procedure

This request aims to obtaina debt spread of 45 million eurosof the young shoot created in 2018.

The insurance start-up Luko has requested the opening of an accelerated safeguard procedure to facilitate the repayment of its debt, learned on Saturday, confirming information from L’Argus de l’urance. “A request to open (from backup procedure, editor’s note) was made“, told AFP a source familiar with the matter. According to L’Argus de l’urance, the request was filed with the Bobigny commercial court and aims to obtain “a debt spread of 45 million eurosof the start-up created in 2018. Luko’s business model is “Good» and the start-up «persistent“, ures the source close to the file, which indicates that no job cuts are planned to date among the 180 employees.

The request to open a safeguard procedure comes after two acquisitions made in 2022 by Luko: first that of the German insurer Coya in January, then that of the French specialist in unpaid rent insurance Unkle in March. A fundraiser was planned to bring fresh money to Luko after these two acquisitions but it never took place and the company therefore did not settle a payment of 12 million euros in April. towards Unkle, explains L’Argus de L’urance.

The specialized media underlines that the request for safeguard procedure aims to reschedule the entire debt of 45 million euros contracted by Luko with its creditors and not only the 12 million euros due to Unkle. Luko claims on its site more than 400,000 policyholders and a presence in several European countries. Initially specializing in home insurance, it has since diversified into borrower insurance.

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