According to reports, the funding round was oversubscribed, indicating strong investor interest in the company’s offerings. Notably, insurance giant Hiscox has backed Coterie in this funding round, alongside continued support from existing investors such as Intact Ventures and Weatherford Capital.
In 2021, the insurtech announced the completion of a $50 million Series B financing round led by Weatherford Capital alongside existing investors RPM Ventures, Intact Ventures, Group 1001, and Alpha Edison.
The recent, significant investment is poised to fuel Coterie’s growth and innovation in the insurtech sector, further enhancing its ability to serve small businesses with tailored insurance solutions.
The news follows on from the announcement earlier this month, that Coterie Insurance, won the title of 2024 Best Insurtech Company at the Fintech Breakthrough Awards. The Awards, presented by an independent market intelligence organisation, FinTech Breakthrough, recognise outstanding companies, technologies, and products in the global FinTech landscape.
Speaking at the award ceremony, David McFarland, CEO of Coterie Insurance (pictured), said: “Having our innovative, game-changing approach acknowledged and endorsed by the broader industry is a clear demonstration that Coterie is bringing real value to ongoing industry challenges with novel and exciting solutions.”
