- Policygenius, an online insurance marketplace, had the joint largest InsurTech deal so far in 2022, raising $125m on 17 March in its latest Series E funding round. Policygenius intends to use the funding to expand their eponymous platform for insurance policy comparisons and management, their CEO Jennifer Fitzgerald said “We’re on track to keep up aggressive growth”.
- So far there have been 123 InsurTech deals in 2022 with total investment at $2.3bn. Deal activity in the sector is very similar to 2021 levels but total capital invested is down by 30% compared to last year’s levels. The United States accounted for 40% of the total deals in 2022 as of 30th March cementing its position as the global InsurTech leader in terms of deal activity.
- Notably Chilean startup Betterfly, a dynamic life insurance provider, also raised $125m during their latest Series C funding round on 1 February propelling them into unicorn status with a $1bn valuation. The company is Chile’s first FinTech unicorn and is preparing to begin operations in seven new Latin American markets in 2022.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2021 FinTech Global