Descartes Underwriting, an InsurTech company specialising in next-generation corporate insurance solutions to address climate and emerging risks, has raised USD120 million in a Series B funding round led by growth equity firm Highland Europe alongside Eurazeo.
Descartes Underwriting, an InsurTech company specialising in next-generation corporate insurance solutions to address climate and emerging risks, has raised USD120 million in a Series B funding round led by growth equity firm Highland Europe alongside Eurazeo.
Existing investors Serena, Cathay Innovation and Blackfin Capital Partners also participated along with new entrants Seaya Ventures and Mundi Ventures. The fresh round of capital comes 18 months after the firm’s USD18.5 million Series A funding.
The Series B investment will be used to support Descartes’ ambition to become a category leader in corporate insurance worldwide. The company will use the new financing to scale up its approach to corporate and public entity risk exposures, growing its technology platform, expanding into new lines of business and targeting larger deals, while continuing its global expansion to better serve its brokers and clients.
