Munich Re provided the series C funding at a valuation exceeding $1bn to take its stake in the workplace insurance provider to approximately 27.5%.
Reinsurance provider Munich Re supplied $250m in series C funding for US-based online insurance platform Next Insurance yesterday at a valuation of more than $1bn.
The investment increased Munich Re’s stake to approximately 27.5%, though the transaction remains subject to regulatory approval.
Founded in 2016, Next operates an online insurance service that focuses on policies for small businesses. Its coverage areas include general and professional liability, business insurance, commercial auto insurance and worker’s compensation insurance.
The platform generates quotes within…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
