Fastweb+Vodafone backs Italian insurtech Mama Insurance in new funding round

Italian insurtech Mama Insurance has picked up a new investment round led by Fastweb+Vodafone, with support from Founders Factory. It follows an earlier investment in 2025 and lifts the company’s total funding to more than €2 million when equity, public funding and debt are all counted together.

That mix matters. The round includes equity from Fastweb+Vodafone, Founders Factory and Vento, plus money awarded through national and regional public programmes and bank debt. It also deepens an existing collaboration with Fastweb+Vodafone that already covers research and development, AI capabilities and digital customer experiences.

Mama Insurance is building what it calls an AI-native insurance platform, starting with home cover. The company is aiming at a market where more than half of Italian households are estimated to have no home insurance, even though they face fire, flooding and theft risks. Its pitch is simple: use automation and AI to personalise the journey, let people get quotes and buy modular policies entirely online, and keep the whole thing short enough to finish in under two minutes.

The policies are written in plain Italian, and the underwriting sits with global insurance group Chubb. Distribution runs through Mama Insurance’s own digital platform, agents and brokers, and embedded partnerships with consumer brands. The company is also working on AI-based distribution tools, while planning to move into more personal insurance lines and products for Italian SMEs.

Longer term, Mama Insurance wants to offer digital, modular cover across a wider set of personal and business needs, with different underwriters depending on the line. That is a familiar playbook in insurtech, but the combination of public funding, bank debt and a telecom-backed partner gives this one a sturdier feel than most startup insurance stories.