Ledger Investing, a New York-based InsurTech startup, raised $75M in Series B funding.
The round was led by WestCap, with participation from Teachers’ Venture Growth, Intact Ventures, SignalFire, MassMutual Ventures, Allegis Capital, and Accel.
The company plans on using the funds to increase revenue growth within its insurance-linked security brokerage (ILS), asset management businesses, to launch data infrastructure service products and to hire more employees than 200.
Ledger Investing, a startup in insurance tech that connects capital and insurance risk, is led by CEO Samir Shah. MGAs (Managing General Agents) and insurers have used the marketplace to access capital and multi-year underwriting capabilities. Ledger Investing has enabled institutional investors to achieve attractive and diversifying, risk-adjusted yields through its ILS fund, Nanorock, and from direct investments in brokered securitizations.
Ledger’s marketplace will be able serve almost all types insurance capital. It will include traditional reinsurers, institutional investors and wealth managers as well accredited retail investors. Ledger Connect is the market’s central data source, providing real-time and actionable insights for investors as well risk originators. It will also establish the new market standard.