Next Insurance reaches unicorn status

October 16, 2019 | Investment

Written by FinTech Alliance

Next Insurance reaches unicorn status

US-based Next Insurance is now valued at $1bn following its Series C funding round.

In Brief:

  • The business is three years old and focuses on the SME market.

  • The round was entirely financed by Munich Re, one of the oldest reinsurers in the world.

  • The Series C funding raised $250mn.

What does this mean?

The new capital will be used to build new products and expand customer initiatives. It currently only operates in the US – where it has 70,000 customers – and has no immediate plans for geographic expansion.

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