We are proud to announce Colibra has a new strategic partner & investor on board - Eleven Ventures.
Eleven is one of the pioneers in early-stage investments in Eastern Europe, comprising a team of highly experienced entrepreneurs and investment professionals, passionate about innovation & technology. They have helped more than 150+ startups in the region make their first steps, including projects like EnhanCV, Farmhopping and Melissa.
We interviewed Ivaylo Simov, partner at Eleven Ventures, to get some inside information on the details behind this partnership:
Q: Mr. Simov, Eleven selected Colibra out of over 200 startups it has been pitched this year. What made you favor Colibra among others?
A: We believe that the well-established insurance sector and its challenges present a great potential that can be unlocked using modern technology. Colibra’s first solution for travel insurance reveals how a new technological approach can address existing inefficiencies that we take for granted. The clear focus on a particular business problem, combined with an experienced team is something that make the project stand out.
Q: You meet a lot of FinTech and InsureTech VCs in your work. What would you like them to know about Colibra?
A: Colibra tackles a global market that is poised for disruption. Many projects promise decentralization using the enablement of blockchain, but few can show such clear connection between the problem and the solution.
Q: Colibra aims to change the way insurance works. Do you think it has the team and the experience to execute such a bold vision?
A: Colibra’s team pulls together both deep industry expertise as well as experience in building great businesses from scratch. Having skill sets that compliment each other in areas such as finance, technology, marketing and international business development, makes this a very well rounded team.
Q: Aside from financial growth, how do you think the strategic partnership between Eleven Ventures and Colibra can benefit both sides?
A: Companies come to Eleven when they seek to get on board a strategic partner that would support their ambitious plans for growth. At Eleven we mobilize our experience and contact networks to help our portfolio companies tackle specific day-to-day challenges as well as to keep track of the big picture and the great vision for the business. On the other side, through our portfolio companies, we get exposure to industry insights and extend our network. Insurance and fintech is an area where we are active and seek to deepen our footprint.