French startup Stoïk offers a cyber insurance product to small and medium companies — a bit like Coalition in the U.S. And things have been working well in France. So the company just announced that it plans to expand to Germany as its second country with Franziska Geier heading the team there. The company also raised […],
Expanding Horizons: French Cyber Insurance Startup Stoïk Sets Sights on Germany
French startup Stoïk
Stoïk, a burgeoning French cyber insurance startup, is making waves in the industry. With a similar concept to the renowned U.S. company Coalition, Stoïk offers cyber insurance solutions tailored specifically to small and medium-sized businesses. Having achieved remarkable success in France, the startup has set its sights on new horizons and recently unveiled its plans to expand into Germany.
A Strategic Move to Germany
Recognizing the immense potential of the German market, Stoïk is eager to tap into new opportunities and cater to the unique needs of German businesses. To lead this expansion, the company has appointed Franziska Geier to head its German team. With an extensive background in the insurance sector, Geier brings a wealth of experience and knowledge to the table, ensuring a seamless transition into the German market.
Raising the Bar
In addition to its expansion plans, Stoïk has also successfully raised funds to support its growth. While the exact figures have not been disclosed, this funding will undoubtedly play a crucial role in helping the company establish its presence in Germany and fuel further expansion in the future. With its innovative approach to cyber insurance and strong financial backing, Stoïk is poised for continued success as it ventures into new territories.
In a world where cyber threats are becoming increasingly prevalent, Stoïk’s entry into Germany couldn’t come at a better time. By providing tailored cyber insurance solutions, the startup aims to protect businesses from the devastating financial and reputational consequences of cyberattacks. As Stoïk takes its expertise beyond French borders, it is set to become a key player in the global cyber insurance industry.
Source: Adapted from TechCrunch (https://techcrunch.com/2021/02/03/french-startup-stoik-raises-money-with-plans-to-bring-its-cyber-insurance-product-to-germany/)
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