Latest Insurance News: Finextra Research

AI fintech Black Ore emerges from stealth with $60m

Black Ore, a startup developing AI tools for financial services firms, has emerged from stealth with $60 million in financing led by a16z and Oak HC/FT, with participation from a host of big-name angel investors.

08 November 2023

News/people

Monzo hires Brolly founder for push into insurance

Monzo has hired Phoebe Chibuzo Hugh, the founder of digital insurance startup Brolly, to lead a push by the challenger bank into the insurance market.

06 November 2023

News/retail

Insurtech Wefox secures $55m in fresh funds

Berlin-based insurtech Wefox has raised another $55 million in funding at a $4.5 billion valuation from Deutsche Bank and UniCredit.

06 November 2023

News/security

Payments system cyber attack could cost the world $3.5 trillion

Insurance marketplace Lloyd's of London is warning that a major cyber attack on a systemic payments system could cost the world economy $3.5 trillion.

20 October 2023

News/people

The rise of the theme-based super app

Elon Musk's ambition to turn X into a WeChat-like everything app is doomed, predicts the man building his own "theme-based" super app, called Super.com.

06 October 2023

News/wholesale

Irish insurtech raises A$40m in funding round

Fineos, a Dublin-based tech firm that develops software for insurance companies, has pulled in A$40m (€24m) in its latest funding round.

17 August 2023

News/markets

Vesttoo files for bankruptcy protection

Crisis-hit fintech Vesttoo has filed for Chapter 11 bankruptcy protection.

15 August 2023

News/markets

Vesttoo to sack 75% of staff

Israel-based Vesttoo, which uses artificial intelligence technology to connect the insurance industry and capital markets, is laying off 75% of its staff amid a growing scandal over the alleged use of a fraudulent letter of credit in a multi-billion dollar insurance transaction.

03 August 2023

News/retail

JPMorgan and Barclays back German InsurTech wefox

Wefox, the Berlin-based InsurTech, has secured US$55m credit facility from JPMorgan and Barclays alongside a $55m second close in its Series D at US$4.5bn valuation from existing investors and new investors including Squarepoint.

17 May 2023

News/payments

Walmart invests $200m in Indian fintech PhonePe

Indian mobile payments company PhonePe has secured $200 million in primary capital from US retail giant Walmart.

17 March 2023

News/startups

Payroll and benefits fintech Catch shuts down

Personal payroll and benefits fintech Catch is shutting down after admitting it is not the one to topple a "trillion dollar ecosystem".

09 March 2023

News/identity

Banks back 'Japan Metaverse Economic Zone'

Major Japanese banks and tech firms have banded together on a metaverse infrastructure project that will, among other things, provide payments, authentication, and insurance services for users across platforms.

28 February 2023

News/startups

Altari Ventures launches fintech and insurtech fund

Early-stage venture capital firm Altai Ventures has closed a $53 million fintech and insurtech fund.

23 February 2023

News/startups

Vittoria hub seeks insurtech incubator participants

Italian insurtech incubator Vittoria hub is on the hunt for its latest batch of startups from Europe and the US.

16 February 2023

News/payments

India's PhonePe raises $100m at $12bn valuation

Weeks after a $350 million raise, Indian digital payment platform PhonePe has secured another $100 million in funding at a $12 billion valuation.

15 February 2023

News/retail

Augmentum makes first insurtech investment

UK listed fintech fund Augmentum has led a funding round into Berlin-based cyber insurance platform Baobab, with a €3 million investment.

30 January 2023

News/cloud

New Singapore digital bank Trust selects Thought Machine core

Trust Bank, the Standard Chartered and FairPrice-backed digital challenger that recently launched in Singapore, is running on Thought Machine's cloud-native core platform.

30 November 2022