Kenyan Insurtech Pula Closes $6M Series A to Boost Profits for Small-scale Farmers Across Africa

Gbemileke Babatunde Kenyan insurtech startup, Pula has raised $6 million in a Series A funding round to increase profitability for small scale farmers across Africa through its tech-driven insurance products and solutions. Pan-African early-stage venture capital firm, TLcom Capital led the round with participation from nonprofit Women’s World Banking. Pula’s latest funding follows a $1.2 million grant Read More

4 InsurTech Themes We’re Excited About In 2021

Themes from investors, founders, & executives in the InsurTech landscape Written by Rick Zullo and Ali Afridi 2020 was a defining year for the InsurTech ecosystem as a confluence of factors brought startups & tech-forward insurance companies into the spotlight. COVID-19 forced companies across the insurance value chain to accelerate digital transformation efforts to effectively Read More

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
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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
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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

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