AkinovA, a UK-based insurtech, announced last week it is now seeking funds through its Series B investment round. Founded in 2017, AkinovA is building an electronic marketplace for the transfer and trading of (re)insurance risks.
“By working in collaboration and partnership with the insurance industry, AkinovA will help to optimise the risk transfer value chain by providing a capital markets grade, industry regulated, trading platform and clearing house. AkinovA will provide valuable data and analytics to participants and regulators from the aggregated data that passes through the marketplace.”
AkinovA also reported that it is focused on unlocking growth in the insurance, reinsurance and ILS markets for cyber and property catastrophe risk trading. While sharing more details about the company, Gil Arazi, Co-Founder and Managing Partner of FinTLV, stated:
“As one of AkinovA’s Series A investors, we were struck by the fact that AkinovA is relatively unique in the FinTech and InsurTech world: their fundamental proposition is to unlock growth, not just efficiency and cost reduction alone. We recognised that, over time, AkinovA’s platform will be able to be used across multiple lines of business beyond cyber risk transfer. As an Israel-based venture capitalist with a strong network in the insurance sector, FinTLV also benefits from proximity to our country’s leading and thriving cyber security-related industry. We look forward to bringing our deep FinTech, C-level insurance operational experience and access to our cyber security cluster to accelerate AkinovA’s growth.”
Henri Winand, Chief Executive Officer of AkinovA, added:
“We are delighted to count Gil and the FinTLV team as one of our investors. They bring much more than money with their network – insurance C‑level operational experience and a proactive approach. As we are ramping up AkinovA’s commercial operations, it was natural to launch a Series B investment round. Of course, we are focused on unlocking cyber risk and ILS industry growth. However, we have been asked by selected brokers and, more broadly, other market participants to assist in bringing efficiencies to the existing property and natural catastrophe risk transfer market.”