insurtech funding News

Openly, High-End Home Insurance MGA, Secures $40M for National Expansion

Openly, an insurtech managing general agency for high-end homeowners insurance, raised $40 million of venture capital from multiple investors. The investment will fuel a national expansion, hiring and further technological development. “The reception has been phenomenal,” Openly co-founder and CEO …

Lemonade Launches in France in Its Third European Country

Lemonade, the New York City-based insurance company powered by artificial intelligence and behavioral economics, has launched in France. The launch marks the third EU country Lemonade has entered, following the Netherlands’ launch earlier this year, and Germany in June 2019. …

Q3 Insurtech Fundraising Breaks Records, but Some Mid-Tier Firms See Funding Gap

Insurtech funding saw the largest number of deals and the highest amount of funding since data recording into insurtech began, with $2.5 billion raised by insurtech firms across 104 deals during the third quarter, according to a report published by …

Next Insurance Attracts $250M in New Financing; Its $631M to Date Beats Lemonade

Next Insurance secured another $250 million in financing designed to fuel continued national expansion of its digital small business insurance offerings. CapitalG, Alphabet/Google’s independent growth fund, led the Series D round. But existing investor Munich Re Group also participated in …

Blackstone Joins Brit’s Parent Fairfax in Investing in Lloyd’s Digital Venture Ki

Digital Lloyd’s syndicate Ki reported that it has raised US$500 million from funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings, parent of specialty insurer Brit that is behind Ki. Ki said the capital commitment will fund its expansion …

Indonesia’s PasarPolis Insurtech Raises $54 Million

The Indonesian digital insurance agency PasarPolis said it raised $54 million in a Series B funding round, in what it said is the largest Series B funding for an insurtech firm in the region. The company said the investors in …

Chinese Crowdfunding, Insurance Site Waterdrop Raises $230 Million, Plans U.S. IPO

Chinese online insurance technology platform Waterdrop Inc. has raised $230 million in a new funding round led by reinsurer Swiss Re and Chinese internet giant Tencent Holdings, it said on Thursday. Waterdrop’s existing investors, including IDG Capital and Wisdom Choice …

Investors Back Startups for Commercial Auto, Climate Risk, High Risk Homes

An insurtech managing general agency focused on commercial auto insurance has raised $16 million in new Series A financing, a climate-risk related platform has $4.2 million in new seed financing, and a home insurance reciprocal and MGA focused on catastrophe-prone …

Rideshare Insurer Buckle Raises $31 Million to Fuel Nationwide Expansion

Buckle, a digital seller of rideshare insurance, disclosed it has raised $31 million in new venture financing and will use the money to expand operations nationally. HSCM Bermuda and Eos Venture Partners co-led the Series A round, which is also …

Home, Auto MGA Branch Plans Conversion to Reciprocal Exchange After Raising $24M

Branch, an insurtech startup focused on bundling digital home and auto insurance, is eying national expansion through 2021 after nailing down $24 million in new financing. The managing general agent (MGA) also plans to add a reciprocal exchange to its …