TechCrunch Summary (2023-06-07 11PM)

Source: Insify raises another $10.7 million for its business insurance startup

Summary
Insurtech Insify has finished its Series A funding round with an extra $10.7m, bringing the total raised from the round to $26.7m. Munich Re Ventures led the extension round, with Nico Rosberg and Opera Tech Ventures participating alongside existing investors Accel, Frontline Ventures and Berlin’s Visionaries Club. Insify has created business insurance products for SMEs that are underserved in the insurance market.

Fact

💰 Insify has extended its Series A funding round, raising an extra $10.7m led by Munich Re Ventures to bring the total raised to $26.7m.

💼 The Amsterdam-based firm has attracted interest from new investors including Formula 1 World Champion Nico Rosberg and Opera Tech Ventures, alongside existing backers Accel, Frontline Ventures and Visionaries Club.

🤖 Insify aims to provide SMEs with the same ease of access to insurance as large companies, with the ability to obtain quotes online through its website and using advanced analytics to get additional information about potential customers.

💻 The insurtech firm has recently extended its reach from the Netherlands into France and Germany, and has grown its customer base from 1,500 to 10,000 since February 2022.

🧑‍💼 Insify was created to offer business insurance solutions to SMEs that are often underserved by legacy providers and face issues with affordability and accessibility.

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