Revaia, a sustainable growth investor, and Bpifrance, through its Large Venture fund, have jointly led a €27 million financing round for FASST, a player in the digital acceleration of the insurance sector.
This funding will support FASST’s mission to drive digital transformation for insurers across France and Europe, allowing the company to expand its platform and meet the rising demand for advanced digital solutions in the industry.
Founded in 2017 by insurance experts Xavier Favre and Yasser Echoukry, FASST specialises in software solutions designed to streamline and digitalise the insurance distribution process. Supported by major industry shareholders, including AG2R LA MONDIALE, Malakoff Humanis, Digital Insure, Covea, and M Capital, its SaaS platform empowers insurers and brokers to enhance sales performance, reduce regulatory maintenance costs, and improve customer experience through an omnichannel approach.
FASST has quickly gained a foothold in the industry, amassing over 30 prominent clients such as social protection groups (Malakoff Humanis, AG2R LA MONDIALE), major insurers (Groupama, Amundi, Covea), and brokers (April, Bessé, Asselio). Headquartered in Angoulême with offices in Paris and Bordeaux, over the past year, the company has seen a notable increase in turnover and has doubled its recurring revenue.
Technology will “widen dispersion” among insurance sector
“We are delighted by the involvement of Revaia and Bpifrance, alongside the continued support from the public fund Nouvelle Aquitaine Co-Investment (Naco) and our management team, to make FASST Europe’s leading distribution platform,” said Xavier Favre, chairman and founder of FASST. “This new stage has only been possible with the tremendous support of our outgoing shareholders, who have driven our strong growth over the last five years and remain vital partners to Faast.”
FASST is strategically focusing on expanding its market reach and enhancing product innovation. The company plans to strengthen its teams to target new clients, including large insurers, bancassurers, asset managers, and medium-sized insurers. Simultaneously, FASST will continue to improve its SaaS platform by developing new modular functionalities to address the evolving needs of its clients more effectively.
Alice Albizzati, founding partner of Revaia, commented: “We were impressed by the influence FASST already has in its market and by its growth trajectory. At Revaia, we are committed to supporting companies that are driving the digital transformation of key sectors, and Faast perfectly embodies this vision. Xavier, Yasser, and their teams have developed innovative solutions that enable insurance companies to become more efficient and better serve their customers. We are looking forward to helping them enhance their products while exploring new market segments to accelerate the digitisation of the sector.”
