Tinubu Square, an enterprise software developer for credit and surety insurers, has collected €15m in its funding round.
The round was backed by New York-based venture firm Long Arc Capital and French investment bank Bpifrance.
In 2018, the InsurTech startup started a five-year strategic plan to expand its international presence and boost its innovation efforts. With the fresh capital, it will target high-growth international markets for Credit insurance and surety software.
Tinubu board member and Long Arc Capital partner Vincent Fleury said, “The business is now poised to become the market-leading enabler of digital transformations for the Credit and Surety Insurance industries. With this additional capital, we expect Tinubu will achieve new levels of success in the U.S. as well as in the rest of the world.”
Long Arc Capital and Bpifrance previously invested into Tinubu Square back in 2017, supplying the company with €53m to support the development of technology and move into new markets.
Last year, the InsurTech startup released its Tinubu Bonding Insurance Suite (BIS) which helps fill the bonding needs of insurers. A key feature of the new service is commercial underwriting.
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