As we all know InsurTech is on the rise. Nearly $3 billion of funding was raised globally for InsurTech ventures according to CB Insights .
On Monday 26th October this week, Route 66 Ventures, one of the key investment partners at the Startupbootcamp Insurance, led series B founding for $15.7 million for Knip, the Swiss ‘mobile-first’ digital insurance broker. The funding round was the largest series B round in the financial technology arena.
Germany’s Creathor Ventures and U.S. based QED Investors co-led the round; while existing investors, Orange Growth Capital and Redalpine Capital, also participated.
Like many start-ups venturing into the InsurTech market know, the customer is king, and building easier ways to experience and interact with insurance products and services through digital means is at the core of the success for many new offerings.
Using some new insurance aggregation techniques and other approaches used in the telecom sector, Knip does the work for you. It analyses the current insurance coverage you have so that to identify gaps with your policy terms. It then provides enhancement recommendations and gives you an overview of existing insurance policies, tariffs, and services available out there to meet your needs.
The digitisation of legacy industries shows no signs of slowing and nor does the enthusiasm of VCs for startups doing just that. Knip, the Swiss ‘mobile-first’ digital insurance broker, has closed a $15.7 million Series B round led by U.S.-based Route 66 Ventures. Germany’s Creathor Ventures and U.S.-based QED Investors co-led the round, while existing investors Orange Growth Capital and Redalpine Capital also participated. The company is talking up the Series B as the largest fintech investment in Switzerland to date.