New Affinity Partnership for Moonshot
FACTS
- Moonshot-Internet, InsurTech by Société Générale, teams up with PayinTech, FinTech focusing on cashless payments.
- They will jointly craft new services for sports clubs’ subscribers and supporters.
- Subscribers’ subscription cards will then become means of payment (managed by PayinTech) paired with an insurance policy (by Moonshot-Internet).
- Cardholders would then be covered in case of loss or theft of their subscription and payment card.
- Besides sports clubs, this solution may later address players in leisure and tourism industries.
KEY FIGURES
- PayinTech
- FinTech founded in 2013
- Managed €44M in flows for 2017, €100M in 2018
- €5.6M raised
- Moonshot-Internet
- InsurTech founded in 2017 by Société Générale
- €6M raised
CHALLENGES
- Ongoing expansion strategy. In April this year, Moonshot-Internet partnered with the InsurTech Roadzen, which also provided them with funding to afford this development. They intended to further boost their offer, their expertise and grow internationally.
- Their goals are similar with PayinTech, as they also look into an additional market (insurance offers applied to means of payment) and another target (sports clubs).
- This partnership highlights their ability to meet niche needs based on context-relevant, customised insurance premiums.
- Increasing their offers’ popularity. Moonshot-Internet stresses high goals and their intent to win more customers (400,000 by the end of 2019). To this respect, this start-up now aims for leisure industries, and relies on fun channels to support their prospecting efforts.
MARKET PERSPECTIVE
- Moonshot-Internet’s offer used to apply to context-based insurance services mostly but, their partnership with PayinTech provides them access to a promising market: diversifying payment media. Smartphones, connected watches, motor vehicles, ticketing and subscription or supporters’ cards are as many day-today objects allowing payments’ validation and they require relevant insurance offer.