Koffie Insurance Raises $11 Million To Foster Expansion And Growth
Koffie Insurance Raises $11 Million To Foster Expansion And Growth
Now that Koffie Insurance, insurance that provides financial services to the trucking and transportation sector, has secured $11 million in capital, the company has raised $15.5 million in total.
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The investment was headed by Anthemis Group, an investor focused on fast-growing fintech startups with a digital DNA. Lerer Hippeau Ventures and Plug & Play Ventures had already invested in the company.
As well as CP Overture and Breakout Capital and Two Lanterns Venture Partners, a limited number of strategic angel investors joined in on the action at the most recent round.
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Koffie Insurance Raises $11 Million To Foster Expansion And Growth
In addition, Koffie offers rapid and reasonable insurance coverage for trucking and transportation enterprises that rewards and encourages safety. Koffie has already insured over 1,000 vehicles by utilizing cutting-edge technology to save time and money in the areas of underwriting, loss management, claims administration, and fleet operations.
Currently, Tennessee, New Jersey, and Illinois residents can use Koffie’s services. Within a year, they hope to have expanded into ten states.
The latest round of financing will also enable enhanced product offerings and strategic new hires.
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Koffie Co-founder/CEO, Ian White, said: “We’re excited to show how InsurTech 2.0 can make a demonstrable impact on the industry. At Koffie, we are proud to integrate safety into the bottom line of trucking companies, accurately tailoring products to fit the needs of individual fleets. We’re excited to collaborate with our customers to continue to deliver best-in-class solutions.”
Amy Nauiokas, Founder and Co-CIO of Anthemis Group, added: “We bet on Koffie to re-envision the financial future of the trucking industry. The team has decades of experience serving the sector, uniquely positioning them to offer a broad array of solutions. The trucking industry has been vastly underserved in financial services for decades and Koffie is in a perfect position to meet truckers’ needs.”
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