Funding & Business

Insurtech funding has slowed after a record 2021. Here’s what’s driving the shift

Published

3 years ago

August 16, 2022

Funding and deals to the insurtech space are down from the all-time highs seen in 2021 — but activity is still up from pre-pandemic levels. We look at what’s driving investment, where the money is going, and what the implications are for 2022 and beyond.

After a record-breaking 2021, funding to the insurtech space is cooling.

With $4.8B raised across 289 deals halfway through 2022, funding is down from a whopping $8.3B raised over 340 deals in the same period last year.

At this rate, the insurtech industry is on pace to see a 42% decrease in funding year-over-year, largely driven by the economic uncertainty and a venture funding slowdown seen across the globe.

However, insurtech funding activity is still keeping pace with the upward trajectory seen before 2021. Startups in the space are also continuing to raise mega-rounds ($100M+ deals), with strong activity in July. For instance, Berlin-based insurtech Wefox raised a $400M round on July 12 while San Francisco-based Coalition, which provides cyber insurance, raised a $250M round on July 8.

In this brief, we’ll look at:

The topline findings and implications for this decline
The market drivers underlying the shift
The categories receiving the most attention

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Funding & Business

Waller Says Fed Is Too Tight, Can Consider July Rate Cut

Published

14 minutes ago

July 10, 2025

The Editors

Federal Reserve Governor Christopher Waller says the Fed should look through the price impact of tariffs during an event hosted by the Dallas Fed. (Source: Bloomberg)

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Funding & Business

Alt Investment Platform iCapital Raises $820M At $7.5B Valuation With An Eye Toward Acquisitions

Published

1 hour ago

July 10, 2025

Judy Rider

iCapital, a fintech platform for alternative investments and investors, has raised more than $820 million in a funding round that takes its valuation to over $7.5 billion, the company announced on Thursday.

That’s up from the just over $6 billion it was valued at in 2021 after raising $50 million in a round led by WestCap. Founded in 2013, New York-based iCapital has raised over $1.5 billion in total funding to date, per Crunchbase data.

SurgoCap Partners and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management co-led iCapital’s latest financing. Existing backers Temasek, UBS and BNY also participated in the round.

iCapital says it plans to use its new capital toward strategic acquisitions, geographic expansion and further investment in its technology. The fintech has already bought more than 23 companies, including AltExchange and Parallel Markets. Presently, it has 1,875 employees across 16 global offices.

The company services $945 billion worth of assets globally on its platform, saying its interface “unifies” onboarding, document workflows, performance data and regulatory compliance. It aims to help wealth managers invest in private markets, structured investments and annuities alongside traditional holdings. For asset managers, the company offers a digital marketplace, data management, AI-powered services and tools, and sales distribution support and reporting.

The funding announcement comes two days after The Bank of New York Mellon Corp. tapped iCapital “to beef up its alternative investment capabilities.”

Crunchbase data shows that investment for U.S. companies in financial services industry categories has held up at robust levels in recent quarters. In particular, wealthtech has been attracting investors as of late. In early July, Savvy Wealth raised a $72 million Series B, and in April Altruist landed a $152 million Series F at a $1.9 billion valuation.

Related Crunchbase query:

Tariff on Brazil Could Remove 20-30bps In 12 Months: Guardado

Published

1 hour ago

July 10, 2025

The Editors

BNP Paribas Markets 360 chief economist for Latin America and Banco Central Do Brasil former deputy governor of international affairs Fernanda Guardado discusses tension between US and Brazil. She speaks with Sonali Basak on “Bloomberg Markets.” (Source: Bloomberg)

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