Zego, an InsurTech in the automotive industry, has become a unicorn.
In Brief:
Its latest $150mn funding round left it valued at over $1bn.
The round was led by DST Global and included General Catalyst.
Launched in 2016, Zego has raised a total of $200mn to date.
What does this mean?
Perhaps slower to be touched by digital disruption than other areas of financial services, the insurance sector has begun to catch up with several InsurTechs seeing success in the UK – including those that offer flexibility or appeal to a specific niche.
