The round was led by QED Investors with participation of existing investors Nyca, Deciens, Y Combinator, and Webb Investment Network. This round follows the company's USD 3.75 million seed round raised in March 2021 and brings the total capital raised to USD 30 million.
Right now, many tech platforms are replacing insurers by creating their own protection plans to remove risks that their end-users face. These companies have unfair advantages over insurers: access to users, tons of data for underwriting, and no additional acquisition costs. The end users get their protection directly from the brands they love when they need it.
The challenge with this is that it's incredibly hard for tech platforms that don't have insurance as their core business to achieve the full potential of their protection products without support. Tint solves this challenge by providing the infrastructure and technology that allows tech platforms to create unique ways to protect their customers. The technology provides everything from software to risk capital to compliance, with flexibility to cover unique risks. Tint enables tech platforms to choose how much of the risk they want to keep and how much they'd like to transfer to insurers or reinsurers.
Tint works with tech companies including Deel, Guesty, Outdoorsy, Neighbor, Riders Sharen, and CitizenShipper, and has powered policies that have protected millions of users and generated tens of millions of dollars in premium. With this new funding, Tint plans to expand its remote-first team from 20 members to over 100, with a focus on growing its product, engineering, and sales teams.
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