Stockholm-based insurance startup Hedvig announced that it has raised $45M (approx €38.5M) in its Series B round of funding. Prior to this round, the company raised a total of $23M (approx €19.68M) and secured partnerships with SCOR and Hannover Re, two of the world’s largest reinsurers.
Investors
The investment was led by Anthemis Partner Ruth Foxe Blader, and Managing Director, Matthew Jones. The round also saw participation from existing investors including Cherry Ventures, Obvious Ventures, CommerzVentures, along with Swedish Novax, Nineyards Equity, Jonas Kamprad, and Mathias Kamprad.
With this development, Matthew Jones, Managing Director at Anthemis will be joining the Hedvig Board of Directors.
Capital utilisation
The proceeds from this round will help the company to accelerate its European expansion and plans to launch its fourth market in the coming months; this time outside of the Nordics.