Top 10 Insurance/InsurTech Capital Raises in the U.S. – March 16th-31st, 2025
Several interesting transactions closed in the Insurance/InsurTech sector over the past two weeks. If you would like more info on these deals or would like to discuss the capital raising market for your company, please contact me.
PE Growth/Expansion
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- Richmond National, operator of a specialty property and casualty insurance company focused on small and mid-size businesses, received $55.13 million of development capital.
Merger/Acquisition and Corporate
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- Litchfield Special Risk, provider of wholesale insurance brokerage services intended to support retail insurance brokers and agents, was acquired by Risk Placement Services, a subsidiary of Arthur J. Gallagher & Company.
- Next Insurance, developer of an insurance platform designed to meet the needs of small businesses, was acquired by Ergo Group, a subsidiary of Münchener Rückversicherungs-Gesellschaft for $2.6 billion.
- Richard Soo Hoo Insurance Agency, operator of an insurance agency intended to offer personalized insurance coverage serving Greater Boston’s diverse community, was acquired by Sterling Insurance.
Later Stage VC
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- Friendly, developer of a robotic cognition designed for insurance and financial services, raised $1.25 million of venture funding from Xceedance and other investors.
- HealthBridge, operator of an insurance tech company intended to give patients financial security and flexibility, raised venture funding from FinTLV Ventures.
- Machine Cover, provider of parametric insurance service designed for minimizing risk and providing the required support, raised $160,000 of venture funding.
- Waffle (Multi-line Insurance), developer of an insurance platform intended to provide customizable plans for all products, raised $500,000 of venture funding in the form of SAFE notes.
Early Stage VC
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- XN Captive (Insurance), provider of insurance management services intended to offer planning, forming, and managing business captives, raised $14.8 million of venture funding from Caffeinated Capital.
Seed
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- Arlo Health, developer of a health insurance platform designed to provide affordable and employee-centric healthcare coverage, raised $4.00 million of Seed-1 funding in a deal led by Upfront Ventures.
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Axel Reijmers
Managing Director
Former Head of Corporate Finance M&A Americas for the Royal Bank of Scotland and ABN AMRO Bank, based in New York. Began his career at ABN AMRO Bank in Japan, and subsequently in The Netherlands in the Corporate Finance department. Was seconded to New York in 2006 to co-establish the ABN AMRO North America Corporate Finance M&A department and grew it by advising medium and large companies on domestic and cross-border mergers, acquisitions, capital raisings and capital structurings. Led the management buyout of RBS Bank Mexico and RBS Broker-Dealer Mexico in 2014 and spearheaded the subsequent growth of the bank as Head of Investment Banking & Corporate Development. During his tenure he supported companies with capital and financing solutions with a focus on companies in the US and Mexican energy infrastructure sector and fintech sector. Holds a master’s degree in economics from Groningen University, The Netherlands. Holds FINRA Series 7 and 63 licenses.
- Email: areijmers@castleplacement.com
- (C) (201) 747-4718
 Axel ReijmersManaging Director |
Please contact me if you have any questions or would like to discuss your capital raise:
Email: areijmers@castleplacement.com
(C) (201) 747-4718
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Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement™ does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers.
