Startup aiming to become Stripe of insurance sector gets $3m venture capital investment

InsurTech startup Clyde has pulled in $3m of venture capital funding to grow its plug-in warranty services offering.

Red Sea Ventures led the round, which also saw capital committed by RRE Ventures, Expa, Starting Line, and Rainfall Ventures.

The company has created an API and e-commerce plug-in to allow retailers to add warranty services and related admin capabilities to their sales outlets.

Clyde says its tech transforms a months-long, expensive process into a 3-minute, free process – with the hope that it is building the Stripe of the insurance sector.

Red Sea Ventures partner Paul Strachman said, “Clyde’s focus on data, ease of use, and insurer marketplace is re-imaging the warranty industry from the bottom up.”

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