Insurtech startup YouSet fetches C$2.1m in angel-backed pre-seed deal

• Other investors include technoloty veterans, such as Joe Canavan, a principal of Canavan Capital; Nicolas Bouchard, founder of DuProprio; and Michel Lozeau, chairman of Anges Québec
• The funding will be used for growth across Canada, beginning in Ontario, and new hires

YouSet, a Montreal-based startup focused on optimizing the process of buying and comparing home and auto insurance, has raised C$2.1 million in pre-seed financing.

The backers include Don Fox, former executive vice president at Intact; Neil Mitchell, former managing director at Marsh Canada; and Mike George, founder of Trisura.
Other investors include tech veterans such as Joe Canavan, a principal of Canavan Capital; Nicolas Bouchard, founder of DuProprio; and Michel Lozeau, chairman of Anges Québec

“It’s a great day for our entire team. We have been working for years towards our vision of making the process of buying insurance more efficient and today’s news is an important milestone on our journey,” said Xavier Freeman, co-founder and CEO of YouSet, in a statement. “We believe that this investment from individuals with such tremendous industry experience is an acknowledgement that our vision is the right one. We are just beginning to scratch the surface of our true potential.”

The funding allows YouSet to launch an aggressive growth strategy designed to multiply sales, both in its home province of Quebec and also across Canada, beginning in Ontario, where the company is launching its digital offering today. Part of the investment will also be dedicated to recruiting, as YouSet is currently looking to fill roles in marketing and software engineering to further grow its team of 11 employees.