Insurtech Naked sequred $38 mn to drive insurance transformation in South Africa
Naked, a South African insurtech firm, has raised $38 mn in its Series B2 funding round. This represents the largest insurtech investment in Africa
Investing News
Supply chain insurtech Overhaul secures $55 mn for AI and strategic expansion
Overhaul, a supply chain risk management and intelligence provider, has raised $55 mn in equity funding. The round was led by Springcoast Partners
Insurtech Rainbow secured $8 mn in a Series A funding led by Zigg Capital
Insurtech Rainbow, a managing general underwriter (MGU) specializing in business insurance, has secured $8 mn in a Series A funding round led by Zigg Capital
Monte Chia raised funding to transform risk management for insurers and businesses
Monte Chia, an Italian insurtech startup, has closed a €500,000 pre-seed funding round. The investment efforts to revolutionize risk management
Insurtech Bikmo raised £4.75 mn funding from Puma Growth Partners
The UK-based cycle insurtech Bikmo has raised £4.75 mn in new funding from Puma Growth Partners. The funds will support its expansion across Europe
MS&AD Insurance increases venture capital fund to $400 mn, prioritizing InsurTech
MS&AD Insurance Group Holdings Inc. announced a $100 mn increase to its venture capital fund, bringing the total to $400 mn. The fund focuses on startups
Chavanges secured seed investment to drive next-gen climate risk solutions
Chavanges Tech, a French startup dedicated to developing cutting-edge digital tools for assessing and mitigating climate and environmental risks, secured seed investment
Swiss insurtech Poncho secures $617K seed funding
Poncho, a Swiss insurtech startup focused on weather-based refunds for outdoor experiences, has raised $617,000 in seed funding
Commercial broker Konsileo raised £8 mn to accelerate its growth across the UK
Chartered commercial broker Konsileo has raised £8 mn to accelerate its growth across the UK. The company specializes in mid-market insurance solutions
Insurtech Bolttech sequred a $50 mn venture debt facility with HSBC
Global insurtech Bolttech has sequred a $50 mn venture debt facility with HSBC. Bolttech aims to use this funding to further its ambitious plans for innovation and growth in the insurtech sector
AI-insurtech Federato raised $40 mn Series C funding led by StepStone Group
Insurtech Federato, AI-powered insurance underwriting platform, has raised a $40 mn Series C funding round, led by StepStone Group
SaaS Agicap raised €45 mn in Series C funding led by AVP
SaaS platform for SMBs to manage and forecast their cash flows Agicap has raised €45 mn in Series C funding led by AVP. This investment aims to bolster Agicap’s presence in Europe
Delos Insurance raised $9 mn in a Series A funding round
Delos Insurance Solutions, a property insurance MGA, raised $9 mn in a Series A funding round led by HSBC Asset Management. IA Capital Group, Blue Bear Capital, Generation Space
Managed care insurers face stock declines amid rising costs & earnings pressures
Shares of major managed care insurers have dropped in recent weeks following an earnings season affected by rising costs tied to government-subsidized plans
AI insurtech Stream Claims sequred $5.3 mn in seed funding
Insurtech startup Stream Claims, specializing in AI-powered medical document review for workers’ compensation, sequred $5.3 mn in seed funding
Insurtech Qantev raised €30 mn funding led by Blossom Capital
AI-powered claims management insurtech for health and life insurers Qantev has raised €30 mn in new funding led by Blossom Capital
U.S. Insurers Face Second Year of Declining Private Equity Income
U.S. insurers saw a second consecutive year of declining income from private equity investments in 2023, with earnings dropping to $7.7 bn, compared to $10.2 bn in 2022
Insurtech Akur8 sequred $120 mn in Series C funding
French insurtech Akur8 has sequred $120 mn in Series C funding, bringing its total investment to $180 mn and its valuation to $400mn, led by One Peak with Partners Group and Guidewire Software
Insurtech Koltin sequred $7.3 mn in Series A funding
Koltin, a Mexican insurtech focusing on private health insurance for seniors, secured $7.3mn in Series A funding. Left Lane Capital led the round, with its Vice President, Rachel Schow, joining Koltin’s board of directors
AI-Insurtech Roots Automation raised $22.2 mn in a Series B
AI-Insurtech Roots Automation has raised $22.2 mn in a Series B funding round led by Harbert Growth Partners, with additional support from MissionOG, Liberty Mutual
Insurtech Functional Finance raised $20 mn Series A led by Walkabout Ventures
Functional Finance, a insurance software platform for managing general agents (MGA), insurers, and wholesalers, has raised a $20 mn Series A funding round led by Walkabout Ventures
Cyber startup BlackCloak raised $17 mn in Series B led by Baird Capital
BlackCloak, a cybersecurity insurtech specializing in protecting executives, high-net-worth individuals, and family offices, has announced a $17 mn Series B funding
US banks saw a 20% rise in high-volatility commercial real estate loans
US banks saw a 20% rise in high-volatility commercial real estate loans in Q2 2024, following a four-year low in the previous quarter
Regulatory scrutiny in banking-as-a-service. FinTechs looking to get bank charters
FinTech companies are increasingly looking into the possibility of getting bank charters, though few have actually taken the plunge
Insurtech Ledgebrook secured $17 mn in Series B funding
Boston-based Insurtech Ledgebrook has secured of a $17 mn in Series B funding round. This opportunistic raise introduces two esteemed Family Offices to the Ledgebrook cap table
Lloyd’s Lab accelerator has become a major force in insurance innovation, securing over $1 bn to support startups transforming the industry, launching 6 years ago
Venture capital funding in insurtech startups is stabilizing, driven by breakout-stage startups in Series B and C. Projections indicate it will reach $4.2 bn
Venture capital funding for generative AI startups is on track to exceed 2023's record-breaking levels. In the first three quarters of 2024, GenAI startups raised over $20 bn
Insurance claims management software can streamline intake, evaluation, validation, payouts and closure. Unfortunately, not all platforms are built to the same standard