Riskwolf, which turns real-time data into insurance, has reportedly collected €685,000 in its first external funding round.
The pre-seed round was led by Switzerland-based SICTIC. Commitments also came from a series of angels and professional investors across Europe, according to a report from EU Startups.
This round boasts more than ten investors from six countries and three continents.
Proceeds of the round will help Riskwolf expand its product line, bolster its technology platform and hire more staff. It currently has team members in Switzerland, Austria, Germany, Slovakia, the UK, Singapore and India.
The Swiss InsurTech company enables insurers to build and operate parametric insurance for digital risks. By leveraging real-time data and dynamic risk modelling, insurers can build and operate parametric coverage for digital risks.
Riskwolf co-founder and CEO Thomas Krapf said, “Riskwolf was founded at the beginning of 2020 to unlock large, innovative insurance markets built on the newly emerging digital economy risks.
“The idea is to bring parametric insurance to any insurer and give them the capabilities to underwrite internet downtimes and outages on a global scale.”
In other insurance news, cloud-based software developer Insurity partnered with MPX to streamline insurance interactions. MPX provides cloud-based communications solutions for property and casualty workers.
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