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Bangkok-based insurtech Sunday banks $45M Series B from investors like Tencent

– Sunday, an insurtech startup based in Bangkok, announced it has raised a $45m Series B.
– Investors include Tencent, SCB 10X, Vertex Growth, Vertex Ventures Southeast Asia & India, Quona Capital, Aflac Ventures and Z Venture Capital.
– The company says the round was oversubscribed, and that it doubled its revenue growth in 2020.
– Founded in 2017, Sunday describes itself as a “full-stack” insurtech, which means it handles everything from underwriting to distribution of its policies.
– Its products currently include motor and travel insurance policies that can be purchased online, and Sunday Health for Business, a healthcare coverage program for employers.
– Sunday also offers subscription-based smartphone plans through partners.

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Inshur Raises $35M in Total Funding

– Inshur is a global commercial insurance tech company.
– Series B funding of $35m was led by JVP alongside existing investors Viola Fintech and MTech Capital.
– The company intends to use the funds to accelerate global growth plans, enabling it to invest in technology, recruit people, and bring new Insurtech products to market.

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Insurtech startup Obie raises $10.7M Series A led by Battery Ventures

– Obie, an insurtech platform for landlords, raised $10.7m in a Series A funding round led by Battery Ventures.
Thomvest Ventures, Funders Club, MetaProp and Second Century Ventures also participated in the financing.
– The company offers instant quotes (by instant, they mean in about three to five minutes).
– The company claims to save policyholders up to 25-30% compared to other insurance premiums.

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Planck, the insurance data analytics platform, raises $20M growth round

– Planck, an AI-based data platform for commercial insurance underwriting, raised $20m funding.
– The funding came from 3L Capital and Greenfield Partners, along with returning investors Team8, Viola Fintech, Arbor Ventures and Eight Roads.
– This brings the New York-based startup’s total raised to $48m.
– Planck said it currently works with “dozens of commercial insurance companies in the U.S.,” including more than half of the top-30 insurers.
– It will use its new funding to build its U.S. team, expand into global markets and add products for new business segments.

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Next Insurance Raises $250M in Funding; Valued at $4 Billion

– Next Insurance, a Palo Alto, Calif.-based digital insurtech company transforming small business insurance, raised $250m in funding.
– The round was led by FinTLV Ventures and Battery Ventures with participation from CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared.
FinTLV Ventures founder and managing partner Gil Arazi and Battery Ventures general partner Michael Brown will join as board observers.
– The company intends to use the funds to continue to expand operations and its business reach.

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Zego, the tech-enabled commercial motor insurer, raises $150M at $1.1B valuation

– Zego, an insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150m.
– The funding round was led by DST Global and joined by General Catalyst, whose founder and MD, Joel Cutler, joins Zego’s board.
– Notable investors include Wise’s Taavet Hinrikus, who is also on the Zego board, and Target Global, Balderton Capital and Latitude.
– The insurance company says it will use the funding to “rapidly expand across Europe and beyond”.
– It will also double its workforce, which currently stands at 265 employees, to over 500 employees by the end of 2021, and continue to invest in technology.

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Coterie Closes $11.5M in Series A-1 Financing

– Coterie Closes $11.5M in Series A-1 Financing
– The round was led by Intact Ventures with participation from Alpha Edison, Lackawanna Insurance Group, a subsidiary of Group1001, and previous investors, RPM Ventures, Allos Ventures, and several others.
– Coterie integrates insurance into platforms and processes that businesses already use.
– Since raising its Series A, the company has continued to team up with key platforms such as Intuit Quickbooks and Thryv to deliver business insurance through the tools and services that small business owners are already using.
– In addition, Coterie recently announced it had launched solutions to help independent agents and brokers more seamlessly sell and service small business insurance.

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