MIC Global, a NYC-based full stack embedded microinsurance provider, raised US$6M in funding.
The round was led by Launchpad Capital, and joined by Greenlight Re Innovations, Ironsides Partners, and existing investors.
The company intends to use the funds to accelerate its growth plans, including investments in infrastructure, talent, and market expansion.
Led by CEO Jamie Crystal, MIC delivers digital reinsurance solutions to diverse insurance and platform partners, enabling individuals and small businesses to access relevant safety nets for when life happens. Its microinsurance products are used and embedded into platform ecosystems, adding value by enhancing the partner’s brand, differentiating their product, driving revenue, and attracting and retaining customers.
Commenting on the news, Jamie Crystal said: “We are pleased to welcome Launchpad Capital, GreenlightRe, and Ironsides Partners as strategic investors and partners to help fuel MIC Global’s continued growth as the preeminent embedded micro insurance provider. MIC is reimagining how insurance is bought and sold, and the additional capital will support the company’s global growth strategy with a focus on expanding our technology-enabled insurance platform to provide protection to people in both developed and emerging countries through our banking, mobile phone, digital/technology, insurance, and insurtech partners.”
FinSMEs
01/02/2024