For anyone interested, there is quite a bit of info about KOBA available on Birchal's website from their round of funding in August 2022.
My 2c below FWIW.
Pros: + Decent unit economics. Early days but LTV/CAC and loss ratios look good. + Low km product maybe a viable niche. + Nice website, smooth experience getting a quote, competitive pricing. + Great reviews on trustpilot. + Big upside potential with telematics (the PDS mentions acceleration and braking data) + Head of insurance / underwriting is ex-Progressive, which is relevant given the telematics angle.
Cons: - Massively sub-scale. 600 customers at Aug-22. Maybe 1000 now? Needs to scale 10x to 50x to become viable. Not clear how they get there given the small base and hyper-competitive market.
Interesting: * Tom and Tony were angel investors / hold convertible notes outside of ENA
ENA Price at posting:
23.0¢ Sentiment: None Disclosure: Held
