Matic Insurance Services raises $7m in Series A

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fintech insurtech wealthtech regtech ai cybertech esg news

Homeowner InsurTech platform Matic Insurance Services has raised $7m in a series A funding round.

Investors to the round included National General Insurance, Anthemis and ManchesterStory Group.

The company is an insurance agency that helps lenders and loan officers to integrate homeowner’s insurance in to the mortgage process. The technology automatically collects data from the mortgage lender, which is used to find multiple insurance policies for a consumer to choose between.

Matic is licensed within all of the 50 states and has delivered more than 300,000 quotes.

With this new injection of capital, the company will look to double the size of its team and continue to scale within all verticals.

Matic co-founder and CEO Aaron Schiff said, “Simplifying homeowner’s insurance and bringing policy selection into the home-buying process is a no-brainer — in fact, people often ask us why it’s never been done before.”

Last year the company raised a $2.3m seed funding round which was led by Anthem Venture Partners and Freedom Mortgage.

Anthemis has had a rather active year in FinTech deals, having taken part in rounds of companies across the space. Last month the firm participated in the $1m seed line of re/insurance underwriter support solution Insurdata. Other companies Anthermis has invested in this year include KYC platform TrueLayer, B2B2C API solution is a Qover and on-demand insurance provider Trove.

Copyright © 2017 FinTech Global

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