SantéVet injects 50 million euros into Doctolib for animal financing

It is a veteran company joining French Tech and France Digitale. At the age of nearly 20, SantéVet, the leader in pet health insurance, won its digital lines by investing €50 million in its digital transformation. Or a third of the €150 million fundraising that the Lyon group carried out last February with its historic shareholder Colomna Capital – the largest this year in Auvergne-Rhône-Alpes.

The broker, which was created in 2003, owns half the market share of animal health coverage in France, which is chosen by 6 to 7% of dog and cat owners. With 300,000 active contracts, of which 10 % in Belgium and Germany, and expects 100 million euros in turnover this year, compared to 77 million in 2021. It employs 300 people, after 120 recruitments made since January: “Technical profiles mainly to strengthen management, IT has moved from 23 to 100 people,” confirms the president Hughes Salwardexcited by the “new multilingual startup momentum” that SantéVet has taken.

To bolster his executive committee, the co-founder (along with his brother) sought HRD at Johnson & Johnson, marketing director at LVMH and technical director at Wefox, the German insurtech unicorn. “We’ve put together a very strong team,” he said.

Vaccination reminder

It follows “two axes of digitization: B-to-C relationships with owners and B-to-B relationships with veterinarians”. Great grooming site and apps wants to book appointments extensively on his service phytolipDoctolip equivalent. Simplify payments management and repayments with PayVet, “as a third party payer”. Even PayVet Crédit offers “no subscription and no obligation upfront costs.” SantéVet will also be enriched with new services for booking animal care or outings, an online store of accessories and the opening of remote consultations.

For professionals, the group does marketing through its subsidiary Digift Software including billing or vaccination reminders. The group hopes to be adopted by 30% of veterinary clinics next year.

“It’s a profound change built on solid foundations,” said Hughes-Salord, highlighting “double-digit, profitable growth since the group’s inception, and eighteen years of data collection. It’s also in our DNA.”

Designed from the start in all languages, the new generation of digital services now incorporate SantéVet’s European ambitions. In a few months, the insurance company will open its Italian branch in Milan, a country where there is no health insurance for pets yet. After Germany last year, the largest European market with France, it has programmed the Netherlands, Austria and Portugal in 2023. With the goal of achieving 50% of the world’s turnover in 2026 by “creating a European digital platform to democratize access to veterinary care”.

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