iwix.net, a specialty insurance portal, has secured $5 million in first round venture capital funding. All of the funding is coming from one source, Quester. Quester’s investment strategy is to back businesses that have the industry knowledge and technology to dominate their chosen space.
“iwix.net is first to market in the specialty insurance area,” said Max Carter, iwix.net CEO. “We have cemented our position by investing in carrier and broker network relationships. Our position is very strong as evidenced by the fact we already have more than 20 carriers on board, including some of the biggest names in the specialty business. Quester’s funding will help us dominate the space and develop the model for other areas of the commercial insurance marketplace.”
iwix.net was founded in 1999 to employ the Internet as a means to give mid-sized agents and brokers the tools they need to place specialty insurance efficiently and effectively. Quester is an independent venture capital firm that invests funds raised from institutions and individuals in private companies. They focus particularly on growth companies in sectors such as information technology, software, telecoms, new media, leisure, healthcare and life sciences. iwix.net, the Internet Wholesale Insurance Exchange, is an Internet based specialty insurance transaction facility.
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