Failed 2024

    Luko

    Paris home-insurance unicorn-aspirant Luko was acquired by Allianz Direct subsidiary Admiral in 2023 at a steep discount, then its German subsidiary entered insolvency.

    Founded → Closed

    2018 → 2024

    Funding Raised

    $73M

    Industry

    Insurtech

    Country

    France

    Full Analysis

    Paris-based Luko was France's leading home-insurance neo-insurer, raising $73M from EQT Ventures and Founders Fund at a peak ~$300M valuation. After acquiring Berlin-based Coya in 2022, the combined entity could not reach profitability. Luko was acquired by Admiral Group's Allianz Direct subsidiary in late 2023 at a steep discount, while the legacy German entity (formerly Coya) entered insolvency. A defining European insurtech failure.

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