Bolttech closes Series C at $147M with a $2.1B valuation to bolster its embedded insurance offerings
Singapore-based embedded insurance startup Bolttech has closed a $147 million Series C round of funding at a $2.1 billion valuation.
Insurtech Bestow lands $120M Series D from Goldman Sachs, Smith Point Capital
Melbourne O’Banion co-founded insurtech Bestow with Jonathan Abelmann in 2017 after struggling to secure his own life insurance policy. His goal was to make it easier for people to obtain life insurance and make the process more tech-enabled. Ini…
Marshmallow, the UK insurance startup for migrants, raises $90M at a $2B+ valuation
U.K. startup Marshmallow has blown up over the years by using innovations in data science to build car insurance policies for immigrants and other consumers who have been overlooked or priced out of traditional insurance. Now, with a million drivers in…
AI insurtech Ominimo bags its first investment at a $220M valuation
How do you get talented engineers to work for a startup in a mundane field at a time when more exciting companies are paying well and hiring aggressively? Here’s an answer from one insurance startup out of Poland called Ominimo: make pay competitive, y…
Arizona proposes law that would shift wildfire liability from utilities to insurers
by Tim De Chant
Arizona lawmakers are debating a bill that would protect utilities from wildfire-related lawsuits, a move that would likely send shockwaves through the insurance industry. The bill would make it harder to prove that utilities are to blame for wil…
Health insurance startup Alan keeps growing at a rapid pace
With its 700,000 customers, Alan could be considered as a mature company. But the health insurance company that wants to become a digital companion for your health is still growing like a startup. On Wednesday, the company shared some financial metrics…
Insurance provider Understory gets into renewable energy following $15M Series A
After growing 500% year-over-year in the past year, Understory is now launching a product focused on the renewable energy sector.
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Honeycomb Insurance grabs $36M Series B from solo VC-led Zeev Ventures
When Itai Ben-Zaken’s first startup failed in 2018, the former BCG consultant and Wharton MBA spent months trying to understand what he could have done differently during the five years he ran the company. After analyzing most of his major decisi…
Cure51 raises a €15M Seed round aiming to crack the code on cancer survival
by Mike Butcher
Rather than grimly assembling data about cancer deaths to predict outcomes in treatment, the founders of Cure51 had another idea. They decided to turn the model around 180 degrees. Instead, the company assembles data about long term survivors of cancer…
How a French health insurance unicorn plans to leverage AI to reach profitability
Alan’s meteoric rise in the French tech ecosystem has been both figurative and literal. A few years ago, the startup’s office was limited to one floor in a nondescriptive office building near the Canal Saint-Martin in Paris. Over time, the company adde…
Insurtech Getsafe acquires a student loan platform to meet its future clients upstream
by Anna Heim
This is Getsafe’s second acquisition in a few months, after it nabbed the German portfolio of ailing French insurtech company Luko.
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Kenyan insurtech Lami’s bid to acquire Bluewave collapses
by Annie Njanja
Kenyan insurtech Lami Technologies February last year announced its acquisition of Bluewave, another startup within the insurance space, to expand its product offerings and enable it to scale into new markets in Africa, but it has now emerged that the …
Non-unicorn insurtech Luko urgently needs a buyer, but will it be Allianz?
by Anna Heim
How fast time flies. Just a few weeks ago, on the heels of its announced acquisition by British group Admiral, French insurtech Luko advertised itself through billboards in the Paris metro and felt confident enough to joke about the fact that it once w…
AgentSync raises $50M more in a massive Series B extension
by Alex Wilhelm
Insurtech has had a rocky few years. Several startups in the space raised a lot of money and tried their luck on the public markets, but found that investors were unwilling to grant them valuations on par with other tech companies for just trying to ma…
Catch, offering health insurance for gig workers, relaunches with new owners
Alexa Irish and Laura Speyer, now the co-CEOs of Catch, acquired the company in June after the original co-founders shuttered the company.
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Orus offers business insurance products to restaurant owners and other small companies
French startup Orus has raised an $11.6 million Series A funding round (€11 million). The startup offers insurance products specifically designed for small and medium companies. Interestingly, today’s news comes just a few months after Amsterdam-based …
World Bank’s IFC backs Indian insurtech startup Onsurity in $24M funding
Onsurity, an Indian startup that offers monthly subscription-based insurance solutions to micro, small and medium enterprises, startups and growing businesses, has raised $24 million in a funding round led by the World Bank’s International Finance Corp…
European Digital insurtech startup Getsafe acquires Luko’s German portfolio, reaches 550,000 customers
by Anna Heim
Getsafe, a German-based digital insurtech startup, has acquired the German portfolio of Luko, a French insurtech startup that recently neared insolvency before agreeing to be acquired by British insurer Admiral Group in a transaction that didn’t …
European cyber insurance startup Stoïk raises $10.7 million and expands to Germany
French startup Stoïk offers a cyber insurance product to small and medium companies — a bit like Coalition in the U.S. And things have been working well in France. So the company just announced that it plans to expand to Germany as its second coun…
Meet Lula, a startup that aims to be the ‘Stripe for insurance’ and just raised $35.5M
Lula, a startup which aims to be the ‘Stripe for insurance,’ has raised $35.5 million in a Series B funding round after experiencing a massive surge in customers. When TechCrunch reported on Lula’s $18 million Series A raise in July of 2021, the company was focused on building an insurance API that aimed to “eliminate […]
Nigeria’s MyCover.ai to scale its open insurance API platform with new funding
Africa’s insurance market is expected to grow at a compound annual growth rate (CAGR) of 7% between 2022 and 2028, reaching $120 billion. Though seemingly impressive, the insurance industry in Africa could be worth more if insurance penetration on the continent wasn’t extremely low, less than 3%, according to reports. As a result, traditional insurers […]
Insify raises another $10.7 million for its business insurance startup
Amsterdam-based insurtech startup Insify has completed its Series A funding round with another €10 million ($10.7 million at today’s exchange rate). Overall, the startup has raised €25 million as part of its Series A round ($26.7 million). Munich Re Ventures, the venture capital division of the large reinsurance company, is leading the extension round. Insify […]
Insify raises another $10.7 million for its business insurance startup by Romain Dillet originally published on TechCrunch
Life insurance startup Getlife becomes Life5 and raises $10.7 million
Spanish startup Life5 has raised its third funding round and has been growing nicely since my previous post. The company also has a new name as it used to be called Getlife. In addition to its home country, Life5 now sells life insurance produts in France. After raising a €1 million pre-seed round and a […]
Life insurance startup Getlife becomes Life5 and raises $10.7 million by Romain Dillet originally published on TechCrunch
This fintech segment saw a flurry of fundraises
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, we’ll take a look at the hottest fintech news of the previous week. […]
This fintech segment saw a flurry of fundraises by Christine Hall originally published on TechCrunch
Despite messy IPOs, there’s good reason to be optimistic about insurtech startups
by Anna Heim
Insurtech is persisting, stubbornly showing a few signs of life despite the carnage in the public markets.
Despite messy IPOs, there’s good reason to be optimistic about insurtech startups by Anna Heim originally published on TechCrunch