Vouch, a business insurance provider based in the US, has purchased lending startup Level for an undisclosed value.
Level has created a tech-driven underwriting process for early-stage fintech startups that is claimed to have brought new efficiency and speed to the debt-raising process.
Vouch hopes to leverage Level’s expertise in developing underwriting technologies to underwrite and support complex insurance products.
Level was founded by Vladimir Korshin, Asa Schachar and Molly Hogan in 2021.
Vouch CEO and co-founder Sam Hodges said: “Level’s unique expertise in building and scaling underwriting systems will bring additional knowledge to our team as we continue to underwrite and support complex insurance policies effectively.
“The team at Level demonstrated their ability to solve complex problems in a highly regulated space, and as we got to know them, we discovered many similarities in our vision to build a value-driven company. We are thrilled to bring the Level team on board.”
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Korshin and Schachar said: “Joining the Vouch team was an easy decision for us. We were impressed by Sam and the team’s pace of development within this exciting market opportunity and look forward to contributing our expertise to the company’s growth.”
In November 2022, Vouch partnered with the UK-based specialist insurer Capsule to aid startups and tech innovators in protecting themselves as they grow.
As part of the collaboration, Vouch also made an undisclosed investment in Capsule.