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Insurtech Matic secures $30 mn funding from Vistara Growth

Insurtech Matic secures $30 mn funding from Vistara Growth

Insurtech Matic Insurance has raised $30 mn in growth funding from Vistara Growth to accelerate its expansion and enhance its technology platform.

Startup specializes in embedded insurance solutions for mortgage servicers, originators, banks, and other financial institutions.

Matic allows these institutions to integrate insurance products like home, auto, and personal coverage into their customer journeys. Since its launch in 2017, Matic has partnered with over 100 organizations, covering a significant share of the US mortgage market.

Matic’s platform connects customers with more than 60 insurers, providing a broad range of competitive policy options. This streamlined marketplace simplifies the insurance purchasing process for consumers while generating additional revenue streams for Matic’s partners.

Stuart Rhodes, CFO at Matic, expressed enthusiasm about the partnership with Vistara Growth. “Their expertise in supporting technology-driven companies aligns perfectly with our growth strategy,” Rhodes said.

This capital will help us expand our reach, enhance our technology, and deepen our partnerships with financial institutions and carriers. We remain committed to making insurance simple, transparent, and seamlessly integrated into the customer journey.

Stuart Rhodes, CFO at Matic

Neil Kenley, Principal at Vistara Growth, praised Matic’s distribution model. “Matic’s platform delivers a transparent and efficient experience for customers while creating new revenue streams for partners,” Kenley said.

With this funding, Matic is well-positioned to capture a larger share of the personal lines insurance market through its advanced technology and embedded distribution approach

This funding round is expected to strengthen Matic’s position as a leader in embedded insurance solutions, driving growth for both the company and its partners.