Gateway sets out to plug insurtech funding gap with Seed Fund II

Insurtech Gateway has completed the first close of Seed Fund II, launched as part of its effort to help close the early stage insurtech funding gap.

The venture capital firm incubates early stage founders to de-risk their regulatory and insurance metrics. It has previously supported European insurtechs including By Miles, Humn, Coincover,  Nayms, Loadsure, Bondaval, Collective Benefits and  Floodflash.

The Seed Fund II will enable Gateway to support 20 teams over the next four years from pre-seed to Series A.

The Gateway was founded in 2016 with a mission to bridge the funding gap and attract “a new kind of founder” willing to tackle complex climate and social challenges. The company has authorised incubators in London and Sydney, supporting 24 portfolio companies, live in 37 countries, working with 26 insurers.

“We believe that insurance and technology can transform society. We are proud to have created a place where independent founders can build sustainable partnerships with progressive insurers, regulators and co-investors,” said Richard Chattock (pictured), CEO at Insurtech Gateway.

According to Jonathan Anderson, SVP, global head of strategic investments at RenaissanceRe: “The Gateway’s differentiated approach helps them identify and incubate an attractive portfolio of insurtech investments while also facilitating valuable knowledge-share and commercial collaboration with investors that support the fund.”

Javier Santiso, CEO & general partner at Mundi Ventures, said: “The funding environment has cooled off from the 2021 euphoria, but the industry still offers huge opportunities and is waiting for much disruption. We have seen a strong correction in public market valuations and some degree of pullback also in the private market. But in the long term, insurance is still a huge market with very low investment compared to fintech and health. It is great to see Insurtech Gateway launching a new fund to help close the insurtech funding gap.”

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