[NEWS] SafetyWing raises $3.5M seed to offer medical insurance to ‘digital nomads’ – Loganspace

Dilapidated British Prime Minister Theresa Could well maybe as soon as acknowledged “while you happen to suspect that that you just can maybe maybe presumably also be a citizen of the field, that that you just can maybe maybe presumably also be a citizen of nowhere”. And while that sentiment would be thought about risible by just correct about any one who works in this day’s outward-having a peep technology exchange, while you happen to would possibly perhaps maybe maybe maybe also be a digital worker of the field, that that you just can maybe maybe presumably also wisely be a worker of no insurance.

That’s the mission thatSafetyWing, a startup out of Norway and a latest graduate of Y Combinator,is aiming to clear up.

“Folk worn to be restricted to working within the community. Now the receive and latest technologies be pleased made it that that that you just can maybe maybe have faith to rent and work for corporations globally, allowing other folks to are residing wherever on this planet they rep to, free from the physical restraints of a neighborhood of labor position,” saysSafetyWingco-founder and CEO Sondre Rasch.

“Unfortunately, social safety nets love wisely being insurance are nationwide and only available in one’s dwelling nation. Hundreds and thousands are left to resolve this out on their include with the majority going uninsured. To clear up this mission, we are building the important thing global social safety receive: a welfare insist on the receive”.

Launched closing year, SafetyWing first product is focussed on medical crawl back and forth insurance, with the promise to present medical quilt for any one who works originate air of their dwelling nation. The quilt is flexible, too, bought as a 28 day rolling subscription that would possibly perhaps maybe maybe maybe also also be paused at any time. Conceal begins at $37 every 4 weeks.

“Our fashioned buyer is a digital nomad,” explains Rasch, “an entrepreneur, freelancer or distant worker in a startup, early 30s, who has moved from the U.S. and spends 3 months at a time of their current cheap international locations with precise infrastructure. Thailand, Indonesia, Colombia, Jap Europe and Mexico are fashioned examples”.

On insist opponents, Rasch says there isn’t essentially anyone else at exhibit building a “social safety receive” for digital nomads, though WorldNomads additionally affords same crawl back and forth insurance. “The fundamental dissimilarity is that we are made for digital nomads and distant workers namely,” he claims. “Our product is moderately easy in that we provide a subscription-love provider that that that you just can maybe maybe bewitch while that that you just can maybe maybe presumably also be residing in but one more nation, and support it eternally”.

Meanwhile, to enhance its mission of providing a security receive for digital nomads and to type extra merchandise, the 2017-based firm, whose other co-founders are Sarah Sandnes (CTO) and Hans Kjellby (COO), has raised $3.5 million in seed funding. Leading the round is Nordic and Baltic-focussed VCbyFounders, with participation from Credit score Ease Fintech Fund and DG Incubation. SafetyWing’s old backers encompass YC andThe Nordic Web Ventures.