(Image source: Branch Insurance.)
Branch Insurance, a startup insurance distributor with a proposition of lower-cost, bundled home and auto insurance, has closed a $50 million Series B fundraise to fuel its national and partner channel expansion. The round was led by Anthemis Group with participation from Acrew, Cherry Creek Holdings, and existing investors Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital, and Tower IV. Branch has raised $82.5 million to date.
“The industry is structurally flawed and it harms consumers,” asserts Steve Lekas, Cofounder and CEO, Branch.