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June 23, 2022

Insurtech startup Ledger Investing raises $75m in Series B round

US-based insurtech startup Ledger Investing has raised $75m in Series B funding round that was led by strategic investor WestCap.

The round has seen participation of Teachers’ Venture Growth and Intact Ventures, and previous investors, namely SignalFire, MassMutual Ventures, Allegis Capital and Accel.

Ledger Investing will use the funds to ramp up revenue growth across its insurance-linked security (ILS) brokerage and asset management businesses. 

The proceeds will also be used to launch data infrastructure service products and create over 200 jobs.

Ledger Investing CEO Samir Shah said, “We are well on our way to creating a trillion dollar asset class and changing the fundamentals of how insurance risk has connected to capital since the dawn of the (re)insurance industry.

“We have built sophisticated risk and capital infrastructure to address the industry’s structural inability to provide insightful and reliable information to capital providers.”

It serves as a marketplace linking insurance risk with capital, and has expanded ILS into the casualty market by offering data transparency, simplified reinsurance structures.

The company has placed over $400m in premium into the capital markets and is claimed to be on track exceed $1bn by the end of 2022. 

Managing general agents (MGAs) and insurance firms leverage the marketplace for multi-year underwriting capacity and access to alternative capital.

Ledger Investing allows institutional investors to achieve risk-adjusted yields through its ILS fund, Nanorock, and from direct investments in brokered securitisations.

The company’s unified data pipeline, Ledger Connect, will power the marketplace with real-time, actionable insights and analytics for risk originators as well as investors.

WestCap partner Jeff Mullen said, “With its industry-first open data platform, powerful analytics and objective pricing models, Ledger is uniquely positioned to drive transformational change by creating new capital opportunities for MGAs and insurers, as well as an entirely new asset class for many investors.”

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