Authentic, a insurtech startup making it easier for SaaS platforms and franchisors to offer affordable captive insurance policies to their SMB customers, secures $11million in series A round funding.
FirstMark Capital led the round, and Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures also participated. The money will be used by the business to grow both its operations and growth initiatives.
It under the direction of its founder and CEO, Cole Riccardi, empowers associations, SaaS platforms, and other groups to design their own captive insurance policies.
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The technology-enabled platform offers small company organisations and individuals the advantages of captive insurance while simplifying its complexity.
It’s partners can offer their own insurance product, customised for community members, with just one line of code. The business charges a fee for managing capital markets & reinsurance, handling claims, and underwriting programmes.
About Authentic
Authentic enable community leaders (saas firms, affinity groups, associations, etc.) to develop captive insurance schemes. A straightforward framework known as insurance allowed communities to pool their resources for a rainy day. They are bringing insurance back to its historical roots at Authentic.
