US-based insurance technology platform Tint has raised $25m in a Series A funding round led by QED Investors.
The round also saw participation from existing investors Nyca, Deciens, Y Combinator, and Webb Investment Network.
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The insurtech will use the funding to increase the headcount of its remote-first team from 20 to more than 100, with a focus on product, engineering and sales departments.
QED Investors partner Amias Gerety will join Tint’s board of directors.
Gerety said: “Tint enables startups to offer insurance and non-insurance guarantees that are essential for customers to adopt new products and experiences that Tint’s partners are building.
“The team at Tint combines deep experience with an insatiable curiosity and customer focus, and their customer list is already populated by some of the most exciting startups in the world.”
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By GlobalDataTint provides the infrastructure and technology to its clients that do not have insurance as their core business.
Tint claimed that its technology comes with everything from software to risk capital to compliance along with the ability to cover speciality risks.
The clients can choose the amount of risk they wish to bear and transfer the remaining to insurers/reinsurers.
Tint co-founder and CEO Matheus Riolfi said: “Most people think that embedded insurance is about distribution, but the seismic shift comes in the products that reinvent how people consume insurance.
“As early employees at Turo, we saw an opportunity to launch the infrastructure that will power this revolution. We are excited to partner with QED and our existing investors to help tech platforms protect their customers with unique insurance products.”
Founded in 2018, Tint counts the likes of Deel, Guesty, Outdoorsy, Neighbor, Riders Sharen, and CitizenShipper as its clients.
Clients can access have access to insurers and full-stack solutions for compliance using an API and no-code app.
