CommerzVentures investes $6m into Concirrus
London, 7 July 2020: Leading speciality analytics insurtech Concirrus has today announced that CommerzVentures has made a $6 million investment into the business.
Heiko Schwender, Partner at CommerzVentures, comments: “Our passion lies in helping fintech and insurtech companies to succeed. We believe Concirrus has the best solution to manage risk in the marine insurance industry. Ultimately, it will serve insurance carriers in a variety of supply chain industries. The team combines deep industry experience and technology expertise. We believe that Concirrus is on a very exciting growth journey and we’re very much looking forward to being part of it.”
Using the latest advancements in AI and machine learning, the company has developed a behavioural-based underwriting platform called Quest which delivers highly differentiated pricing, portfolio management and predictive analytics. Its technology is now being recognised as a category leader and a must-have for the insurance value chain.
Andrew Yeoman, CEO at Concirrus says: “We are really excited to have CommerzVentures join the business. The last few months have been really busy for Concirrus as we’ve continued to sign new customers during what are clearly unprecented times. This investment is a clear vote of confidence in our vision and the value that we’re bringing to the insurance market.”
This latest investment by CommerzVentures follows the recent announcement which saw AlbionVC lead on a $20 million Series B funding and included participation from current investors IQ Capital, EOS Venture Partners and several angel investors. With many new clients added to its customer portfolio in the last quarter alone, Concirrus continues to demonstrate and reinforce its strong credentials with some of the most respected leaders in the market.
The deal was supported by Royal Park Partners who acted as exclusive financial advisors to Concirrus and its board of directors.
For more information, please contact:
Emmett & Churchman Ltd
Tel: 07966 820320
Concirrus is the creator of Quest, an insurance software platform developed with, used and trusted by insureds, insurers, reinsurers and brokers around the world. Quest allows existing and new data to be ingested, understood and presented in a way that provides valuable insights to help improve loss ratios.
Launched in 2014, CommerzVentures is a specialist fintech investor with €250m under management. CommerzVentures backs early and growth stage companies in the areas of financial services and insurance (and related technologies) across Europe, Israel and the US. Portfolio companies have scalable and attractive business models, show success in their markets and need investments to support further growth.
About Royal Park Partners
Royal Park Partners is a global corporate finance advisory firm, supporting ambitious fintech companies with specialist transaction advice. The firm works in partnership with both prominent and emerging financial technology businesses, providing the expertise needed to enable entrepreneurs, founders and funds to build the future of finance.
Royal Park Partners provides advice in the areas of corporate finance, capital raising, private equity, trade sales and initial public offerings.
Royal Park Partners is an appointed representative of Sapia Partners LLP, which is authorised and regulated by the Financial Conduct Authority.