Mama Insurance Secures €2M to Scale Italy’s First AI-Native Insurtech Platform

Milan, 14 September – Mama Insurance, Italy's first AI-native insurance platform, has closed a new investment round led by Fastweb+Vodafone, with the support of Founders Factory. The deal follows a first investment in 2025 and brings total funding raised by the Bologna-based startup to more than €2 million across equity, non-dilutive public funding and debt. The new capital will fund the expansion of the platform beyond home insurance, into new personal lines and products built for SMEs.

Italy remains one of Europe's most underinsured markets: more than 50% of households have no home insurance, despite rising exposure to fire, flooding and theft. Mama Insurance was created to close this structural gap with a completely redesigned customer experience: deep automation and AI personalisation, an instant quote, modular cover written in plain Italian, and an end-to-end purchase made entirely online in under two minutes. Underwriting is provided by Chubb, the global insurance group.

Distribution runs on a multichannel model: a direct digital platform, a network of agents and brokers, and embedded partnerships with leading consumer brands. The company is also developing new AI-driven distribution capabilities, today in R&D, designed to redefine how insurance is discovered, bought and experienced in Italy.

“Italy is one of the few European markets without an AI-native insurance champion. We are becoming it. Home insurance is where we start, but our ambition is to build the platform that protects Italians across every dimension of life and business: from the home to pets, from the family to health, all the way to the use of AI in their own business. The confidence of Fastweb+Vodafone and of both Italian and international VCs is the strongest signal that this vision is the right one, and that the moment to build it is now.” Leonida Fini Zarri, Founder and CEO of Mama Insurance

The round has three complementary components. The equity, led by Fastweb+Vodafone, Founders Factory and Vento, consolidates the core group of strategic investors. Alongside it sit funds awarded through national and regional public tenders, a mark of institutional recognition for the project, and bank debt, which attests to the company's creditworthiness.

“Investing in Mama Insurance reflects the long term commitment of Fastweb+Vodafone to backing Italy's most ambitious innovators and to exploring how AI and digital technologies can redefine entire categories of services for consumers and businesses in Italy. Mama is exactly the kind of AI-native, world class venture we want to help create and grow in Italy.” Alessandro Magnino, Chief Strategy & Transformation Officer, Fastweb+Vodafone

“Mama Insurance is part of the new generation of insurtech companies building AI-native experiences. Its goal is to make insurance simpler, faster and more accessible for Italian consumers and businesses, tackling the country's long standing protection gap with a new, fully digital approach. With the support of Founders Factory and Fastweb+Vodafone, Mama Insurance is developing a new kind of insurance product, and we are excited to back its growth as it goes to market.” Damian Routley, Chief Operating Officer, Founders Factory

With the new capital, Mama Insurance will accelerate the expansion of the platform well beyond home insurance. The company is preparing to launch new personal lines and products built for Italian SMEs, a segment where the protection gap is every bit as structural as it is for households. The goal is to build the reference insurance platform for anyone looking for digital, modular and understandable cover, alongside the best underwriters on the market for each specific line of business.

For more information, visit Mama Insurance.