Allianz X, the digital investment unit of Allianz Group, has taken an equity stake in Coterie Insurance as part of the insurtech’s Series C round.
The deal extends Allianz’s role in small business coverage and deepens collaboration with Allianz Reinsurance, which has supported Coterie as a reinsurer since 2023.
Alexander De Kegel, Chief Investment Officer and Managing Director of Allianz X North America, said the move reflects Allianz’s focus on a market that is attractive but notoriously hard to serve.
He described Coterie as a standout platform in the small business segment and framed the investment as the beginning of the company’s next growth phase.
Coterie has an exceptional platform for the SMB insurance market, a segment that is both attractive and challenging. This deal demonstrates Allianz X’s ongoing commitment to the segment and the opportunities within it, as well as marking the beginning of the next phase of Coterie’s growth
Alexander De Kegel, Chief Investment Officer and Managing Director of Allianz X North America
Coterie, founded by David McFarland, develops AI-driven tools to help agents and brokers profitably serve small and micro commercial accounts.
McFarland said the model delivers strong operating leverage, enabling the business to scale while maintaining long-term viability. He added that the Allianz partnership will help the company push further into micro-commercial insurance.
Allianz Re CEO Holger Tewes-Kampelmann praised Coterie’s underwriting record and rapid growth. He said Allianz is ready to expand its reinsurance support, ensuring the company has the capacity it needs to pursue its ambitions.
We have been consistently impressed by Coterie’s exceptional growth and strong underwriting performance.
Holger Tewes-Kampelmann, CEO of Allianz Reinsurance
The latest round builds on nearly $100mn in funding already raised by Coterie, positioning it to accelerate growth in the U.S. small business insurance market.
The latest on Coterie Insurance’s funding, up to mid-2025, based on public data:
- In October 2021, Coterie closed a $50 mn Series B round, bringing its total funding at that time to about $75 mn.
- In March 2024, the company raised an additional $27 mn in growth capital, in an oversubscribed round.
Coterie Insurance is a U.S. insurtech/Managing General Agency (MGA) focused on simplifying and speeding up small business insurance.
The company builds digital-first tools for agents and brokers, offering bindable quotes nearly instantly. It emphasizes ease of underwriting, modern data use, and minimizing friction in quoting and binding policies. It serves small and micro commercial clients, with admitted products available in all 50 states.
