Descartes Underwriting intends to use new financing to scale up its approach to corporate and public entity risk exposures. Credit: Towfiqu barbhuiya on Unsplash.

Corporate insurance solutions provider Descartes Underwriting has secured $120m in Series B funding round to support its objective of becoming a category leader in the corporate insurance segment.

The funding round was led by the equity firm Highland Europe and international investment company Eurazeo.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

New investors including Seaya Ventures and Mundi Ventures participated in the funding round along with the existing investors namely Serena, Cathay Innovation and Blackfin Capital Partners.

Descartes Underwriting co-founder and CEO Tanguy Touffut said: “The corporate insurance market is undergoing a momentous shift driven by a changing climate, the growing impact of natural catastrophes and a rise in emerging risks.

“Our aim is to be the global leader in delivering truly revolutionary solutions to brokers, corporations and public entities for these evolving exposures.

“With the support of our partners, we will continue to develop and deploy a new generation of insurance products that are entirely tech-driven, simpler, more transparent and quicker to pay in the event of a loss – adapted for the new risks corporations and governments increasingly face.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Descartes Underwriting intends to use the fresh capital infusion to enhance its technology platform, enter new business lines, as well as focus on larger deals, while expanding its business globally to better serve its brokers and clients.

It will also use the new financing to scale up its approach to corporate and public entity risk exposures.

Previously, Descartes Underwriting raised $18.5m in a Series A funding round.

Highland Europe partner Stan Laurent said: “Tanguy, Sébastien and Kevin have developed the most innovative and successful set of insurance products we have seen in the increasingly relevant climate risk sector.

“We are impressed by their team, culture, set of partners and ambition, and look forward to helping them scale as a global next-generation corporate insurance business.”