Capital markets

bolttech lands $196 million; Wefox added $110 million to a $400 million Series D.

Growth alone is not enough to sustain a business in the long term.

The company, which currently operates in six countries, is planning to use some of the funding to develop a platform for other insurers to build insurance products via Wefox's technology.

The Global Insurtech Report highlights sector investments, which are up from the last quarter of 2022.

The nonprofit will work with the New York State Energy Research and Development Authority to fund innovators for insurance products that tackle climate-related risks.

As funding realities change for insurtechs, new emphasis areas are likely to emerge.

The insurer is investing in startups, including insurtech Surround Insurance, to generate positive social impact alongside financial returns.

Inshur led the way with a big round and an acqusition.

Joyn Insurance's partnership with Commit allowed the company to launch its platform amidst a downturn of insurtech investments.

Fintechs were already clustered in New York and San Francisco. Now that most startups work with the four largest banks, it's even harder to create new technology in the heartland.

There were more than 30 funding events in the insurtech sector.

The startups will receive $50,000 in seed funding.

In an all-cash transaction valued at approximately $2.6 billion.

Digital Insurance spoke with Joel Albarella, founder and head of New York Life Ventures

The collapse of Silicon Valley Bank ratcheted up the financial pressure on startup companies that was already building. How can new entrants adapt?

Some tech startup clients had to scramble to retrieve money as the bank was closing. Many wonder which financial institution will fill the void. 

Panic withdrawals brought down a bank within two days, and many point to some venture capitalists, who urged companies to pull money out of the bank.

Some venture capitalists raced to assist in setting up temporary cash funds to help affected startups make payroll next week.

The funds were seen as safe havens when word spread that SVB's finances were worsening.

Lenders have focused on front-end cost differences since key secondary market players opened up the option, but what happens when a problem emerges down the road is worth weighing too.