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Online bank Monzo valued at £2bn following £113m funding round

Funding round includes Y Combinator Continuity, Latitude Venture Partners, General Catalyst and Stripe Online-only bank Monzo has closed a new funding round doubling the startup’s valuation to more than $2.5 billion (£2 billion), making it one of the UK’s most highly valued fintech companies. Monzo last raised funding late last year at a valuation of Read More
insurtechforum-lemonade-germany News 

Lemonade has settled on Germany for first expansion beyond the US

Insurtech startup Lemonade has launched in Germany, marking its first expansion beyond the US, reports the Financial Times. In addition to offering contents and liability insurance in the country, Germany will be the first market in which the startup uses Policy 2.0 — a policy document that aims to make insurance coverage details more straightforward. Read More
insurtechforum-funding-venturecapital-zego News 

London-based insurtech start-up Zego raises $42m to fund European expansion 

A start-up which allows Uber and Deliveroo couriers and drivers to pay for commercial vehicle insurance by the minute has raised $42m (£33.3m) in investment. Zego, which was founded by two former Deliveroo employees in 2016, allows workers in the so-called “gig economy” to pay for commercial insurance only when they use their cars and Read More
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Bank-FinTech Collaboration Drives B2B FinTech Funding

Bank-FinTech collaborations have emerged as a viable, lucrative growth path for both sides of these partnerships. For traditional financial institutions (FIs), working with a would-be competitor means integrating technologies for customers without having to build solutions from scratch. For FinTechs, the deals mean access to a broader range of customers through well-established industry names. This Read More
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Berlin-based digital car insurance startup FRIDAY secures €114 million

Berlin-based digital car insurance startup FRIDAY secures €114 million in a combination of equity and media-for-equity financing   Berlin-based insurtech startup FRIDAY has raised €114 million in a combination of media-for-equity and equity financing. Of the total, €39 million is from a media-for-equity deal with SevenVentures and the media investor German Media Pool, while the Baloise Read More